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KKR mezzanine fund raises more than USD1bn

KKR Asset Management has announced the final close of its mezzanine fund, KKR Mezzanine Partners I, on August 31, 2011.

In total, the fund closed on over USD1.0 billion from a diverse group of global investors, including insurers, pension plans, family offices and sovereign pools of capital. Recent transactions include providing the mezzanine financing that facilitated Advent International Corp.’s and Bain Capital Partners’ acquisition of payment processor RBS WorldPay, Bain Capital Partners’ acquisition of chemical distributor IMCD Group and supporting the sale of Kroll Inc to Altegrity Inc, an international screening and security solutions company owned by Providence Equity Partners.

“We have a healthy pipeline of opportunities and look forward to putting this additional capital to work by continuing to partner with private equity sponsors and management teams to support their objectives,” says Frederick M Goltz, head of KKR’s mezzanine business.

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