KKR has structured or syndicated more than $80bn of private investment-grade financing so far this year, highlighting growing corporate demand for flexible borrowing solutions and the expanding role of private capital in the high-grade debt market, according to a report by Bloomberg.
The alternative asset manager reached the figure by 1 September, having already originated twice as much private investment-grade financing as it did during the whole of 2025, according to a company presentation.
Insurance capital has provided an important source of funding for the transactions, according to Chris Sheldon, KKR’s co-head of credit and markets.
KKR has structured financing for borrowers including Kuwait Petroleum Corporation, Enbridge and Samsung Electronics as demand for private investment-grade solutions expands.
The firm has also raised $15bn from third-party investors for its credit strategies this year, up 29% from the comparable period in 2025, according to the presentation.
Artificial intelligence infrastructure is expected to provide another significant source of private-credit demand. Sheldon estimates that around $7.6tn of capital expenditure on AI infrastructure will be required over the next five years, potentially creating financing requirements that exceed available capital.
While KKR sees areas of elevated valuations within AI, the firm says it has not identified evidence of a broader bubble. The manager is drawing on its experience in infrastructure and real estate when assessing AI-related opportunities and associated risks.
The growth of private credit is nevertheless taking place against increased scrutiny of the asset class. Concerns have emerged over the potential impact of AI-related disruption on software companies, which have been important borrowers for direct lenders.
KKR’s non-traded credit fund experienced a period of increased withdrawal requests before flows stabilised, while the firm has also provided capital to support its publicly traded retail credit vehicle.
