Dealflow | September 4, 2019

UBS clients chip in $225 million for KKR’s Global Impact Fund

David Bank
ImpactAlpha Editor

David Bank

ImpactAlpha, Sept. 4 – Details are emerging about how KKR crossed the $1 billion mark for its Global Impact Fund, which will invest in commercial solutions that contribute to the UN Sustainable Development Goals.

Last year, the New York State Common Retirement Fund confirmed it has committed $300 million. Now comes UBS, which announced its wealth-management clients have placed $225 million to the fund. UBS earlier raised $325 million for TPG Growth’s $2 billion Rise Fund.

What we know about KKR’s $1 billion Global Impact Fund

“Tackling global sustainability challenges is an increasingly important investment opportunity for us and for our clients,” UBS’ Mark Haefele said in a statement. The Swiss bank in 2017 committed to raise $5 billion over five years for SDG-related impact investments.

KKR’s Global Impact Fund has invested in Singapore’s Barghest Building Performance, which helps owners of commercial and industrial buildings save energy, and Indian waste management company Ramky Enviro Engineers.

All in the family: KKR’s Global Impact Fund co-invests with KKR’s Asia fund

“There is significant opportunity to invest in businesses that create value by delivering commercial solutions to critical challenges,” KKR’s Robert Antablin said.