KKR Gathers $6.5 B Credit Fund, Buys Healthcare Royalty Firm and Courts Retail Investors

KKR & Co. is accelerating its capital-raising drive, gathering about $6.5 billion for an asset-backed finance strategy—the largest credit fund in the firm’s history—and securing a separate $2 billion commitment from one of Japan’s biggest life insurers, according to Bloomberg reporting. The buyout firm is simultaneously expanding in healthcare, with people familiar saying it has agreed to acquire a majority stake in HealthCare Royalty Partners. The target provides funding to drugmakers in exchange for future royalty streams, giving KKR steady, long-dated cash flows tied to pharmaceutical sales. Looking to broaden its retail footprint, KKR and Capital Group plan to launch the Capital Group KKR U.S. Equity+ interval fund in early 2026, pending regulatory clearance. The vehicle will invest roughly 60 % in publicly traded stocks and the balance in privately held companies, offering individual investors periodic liquidity while opening access to private-market exposure. The burst of activity underscores persistent demand for alternative assets. In a related move, tech-focused private-equity firm Recognize Partners—founded by former Cognizant chief executive Francisco D’Souza—closed its second fund in late June at more than $1.7 billion, exceeding its target after an oversubscribed, five-month fundraise.