11:33 AM EDT, 06/24/2024 (MT Newswires) -- (Updates with further details, MT Newswires' attempt to contact KKR in the fifth paragraph.)

KKR & Co ( KKR ) is looking for about $20 billion from investors for its new North America private equity fund, Reuters reported Monday, citing people familiar with the matter.

The new fund is called North America Fund XIV and began marketing to investors earlier in June, Reuters reported, citing the sources. It is targeting a net internal rate of return percentage of at least high-teens and a steady annual deployment of 20% to 25% of its amassed capital, the sources told Reuters.

KKR shares were up 1.1% in recent trading.

Reuters said KKR declined to comment.

KKR didn't immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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