KKR, with new fund, sees growth-tech opportunities; K1 runs continuation fund deal on 3 assets, including ReThink

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KKR, with new fund, sees growth-tech opportunities; K1 runs continuation fund deal on 3 assets, including ReThink

Morning Hubs!
This is Chris, on for Wire Wednesday.
Today we have insight into how KKR plans to deploy its news growth/tech fund.
Also, KKR agreed to back an old-line parts maker for the medical device industry.
And, K1 is running a deal to move three assets, including ReThink First, into a continuation fund.
Let’s kick it off!
Techie

Despite a seeming market hangover on growth tech from years of high-valuation investments now dragging performance on some older funds, opportunities are rife in the segment at what should be more attractive pricing. Those with fresh capital to deploy in the changed environment could be set up for strong performance down the line.
KKR recently closed its third Next Generation Technology Growth fund on about $3 billion. “The accelerated pace of digital transformation is enhancing the investment opportunity in the technology space,” partner and head of Tech Growth in Europe Stephen Shanley told Obey Martin Manayiti in an interview.

Devices

KKR, meanwhile, also this morning agreed to invest in Precipart, which makes precision components for the medical device and aerospace industries, the firm said in a statement. The firm didn’t disclose financial details.
Three-assets

Speaking of tech investing, software specialist K1 Investment Management is running a secondary process to move three assets, including ReThink First, into a continuation fund for more time to grow the businesses, sources told Buyouts.

Hit me up with tips n’ gossip, feedback or your thoughts at christopher.w@pei.group or find me on LinkedIn.

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