About This Fund
KKR Health Care Strategic Growth Fund II (HCSG II) is a dedicated healthcare growth equity investment vehicle managed by KKR, one of the world's largest alternative asset management firms. The fund reached a final close of $4.0 billion on January 10, 2022, representing nearly three times the size of its $1.45 billion predecessor fund, KKR Health Care Strategic Growth Fund I, which closed in November 2017. HCSG II is the second installment of KKR's dedicated healthcare growth equity strategy, designed to address the growing need for scaled growth capital in the global healthcare sector.
The fund employs a growth equity strategy focused on healthcare companies across North America and Europe, investing in businesses operating in pharmaceuticals, medical devices, healthcare services, healthcare information technology, and life sciences. KKR brings its global network of healthcare industry expertise and operational resources to portfolio companies, providing access to capital, strategic guidance, and sector-specific insights to accelerate growth trajectories. The fund targets companies that have demonstrated product-market fit and are positioned for accelerated expansion in large healthcare end markets.
HCSG II attracted a diverse investor base including public pension plans, sovereign wealth funds, insurance companies, financial institutions, endowments, private wealth platforms, family offices, and high-net-worth individuals globally. KKR committed approximately $500 million of its own balance sheet and employee capital alongside outside investors, demonstrating strong alignment of interests. The fund builds upon KKR's deep healthcare investment track record spanning multiple decades and positions the firm as a leading growth capital provider to healthcare innovators in developed markets globally.