Capital Group Files for First Public-Private Equity Fund, Furthering Exclusive Strategic Partnership with KKR

Rhea-AI Summary

Capital Group and KKR (NYSE:KKR) are expanding their strategic partnership with the filing of a new public-private equity interval fund, Capital Group KKR U.S. Equity+, expected to launch in early 2026 pending regulatory approval. This follows their successful April launch of two public-private credit interval funds that attracted over $100 million in flows within three months.

The new fund aims to provide everyday investors access to both public and private equity markets through a single solution with lower minimums and no accreditation requirements. The partnership's existing initiatives have already engaged financial advisors across more than 100 firms in public-private education programming.

The companies are also developing additional public-private investment strategies, including access to KKR's real assets strategies, and exploring opportunities in model portfolios and target date funds.

Positive

• New fund democratizes private equity access for retail investors through lower minimums and no accreditation requirements
• Strong initial success with $100 million in flows within first 3 months for existing public-private credit funds
• Broad advisor adoption with over 100 firms participating in education programming
• Strategic expansion into additional investment products including real assets, model portfolios, and target date funds

Negative

• New fund launch subject to regulatory approval
• Implementation timeline extends to early 2026

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Capital Group KKR U.S. Equity+ expected to launch in the U.S. in early 2026, blending public and private equity investing and adding to suite of solutions built for everyday investors, pending regulatory approval

LOS ANGELES and NEW YORK, July 30, 2025 /PRNewswire/ -- Leading global investment firms Capital Group and KKR take the next step in their partnership to increase access to private markets with Capital Group's proposed offering of a new public-private equity interval fund.

Building on the April launch of the firms' first two public-private credit interval funds, Capital Group today filed a registration statement with the SEC for Capital Group KKR U.S. Equity+, expected to launch in the U.S. in early 2026, pending regulatory approval. The fund, which will combine public and private market exposures, aims to deliver a comprehensive solution that provides opportunities for growth and diversification and allows investors to seek opportunities across a wider spectrum of companies.

Structured as an interval fund, the strategy is designed to provide access to public and private equity markets through a single, integrated solution with lower minimums, a familiar investment vehicle and no accreditation requirements.

"Private market investments can enhance returns and add diversification within a portfolio, yet have historically been out of reach for everyday investors given accreditation requirements and higher investment minimums. That's why we're committed to bringing public and private equity investing together through a single, integrated solution, providing access to the highest conviction investment ideas from Capital Group and KKR," said Holly Framsted, Head of Product Group, Capital Group.

A strong foundation

Today's filing follows the firms' April launch of Capital Group KKR Core Plus+ and Capital Group KKR Multi-Sector+, which have already attracted more than $100 million in flows within the first three months. Financial advisors across more than 100 firms have participated in Capital Group's customized public-private education programming.

"We have a responsibility to design thoughtful, deliberate solutions that can stand the test of time based on what financial advisors have told us they need. Equally important is helping advisors understand how to integrate these private markets exposures into their clients' portfolios," said Matt O'Connor, CEO of Capital Group's Client Group. "We view the public-private market as an opportunity to do this, and the enthusiasm from financial advisors as we define this category is tangible. Beyond flows, advisors have made education a clear priority, for themselves and their clients," added O'Connor.

"The capital markets landscape has fundamentally shifted. Today's companies no longer choose between public or private capital; they strategically navigate both to unlock growth and long-term value with the flexibility to adapt to changing opportunities and market conditions. Since KKR's founding in 1976, our approach to private equity has been to deliver performance for our clients by investing in good companies and helping them grow into great ones. We're delighted to deepen our partnership with Capital Group by providing access to KKR's private equity solutions at a time when demand for flexible, high-quality private market exposure has never been greater," said Eric Mogelof, KKR's Global Head of Client Solutions.

Work is underway on additional public-private investment strategies, including providing access to KKR's real assets strategies. Capital Group and KKR are also continuing to explore opportunities to work together on model portfolios, target date funds and other areas where combining capabilities can add value to clients.

"The more time we spend together, the more opportunities we see to work with one another. Our cultures are strongly aligned, and our focus on client outcomes is what continues to bind us and drive our joint activities. We both said in 2024 when we announced our partnership that this was just the beginning, and we've only strengthened that belief over the past year," said Capital Group President and CEO, Mike Gitlin and KKR Co-CEO Scott Nuttall.

About Capital Group
Capital Group has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research and individual accountability since 1931.

As of June 30, 2025, Capital Group manages more than $3.0 trillion in equity and fixed income assets for millions of individuals and institutional investors around the world. Capital Group manages equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.

For more information, visit capitalgroup.com.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at https://kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at https://www.globalatlantic.com/

KKR is not a sponsor, promoter, investment adviser, sub-adviser, underwriter or affiliate of Capital Group KKR U.S. Equity+.

The registration statement of Capital Group KKR U.S. Equity+ has been filed with the Securities and Exchange Commission and is available from the EDGAR database on the SEC's website (www.sec.gov). The information in the registration statement is not complete and may be changed. The securities of the fund may not be sold until its registration statement is effective. An investor should consider the investment objective, risks, charges and expenses of the fund carefully before investing. This and other information about the fund will be contained in the fund's final prospectus, which investors should read carefully when available from the EDGAR database on the SEC's website (www.sec.gov). This communication is not an offer to sell the shares of the fund and is not soliciting an offer to buy the shares of the fund in any state where the offer or sale is not permitted.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All KKR trademarks mentioned are owned by Kohlberg Kravis Roberts & Co. L.P.

KKR Credit Advisors (US) LLC serves as the sub-adviser of Capital Group KKR Core Plus+ and Capital Group KKR Multi-Sector+ with respect to the management of each fund's private credit assets. Capital Group (the "Adviser") and KKR are not affiliated. The two firms maintain an exclusive partnership to deliver public-private investment solutions to investors.

Capital Client Group, Inc.

Media Contacts

Capital Group
Lizzie Lowe

KKR
Kenny Juarez or Miles Radcliffe-Trenner

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SOURCE Capital Group Companies

FAQ

What is the new Capital Group KKR U.S. Equity+ fund?

It's a public-private equity interval fund that combines public and private market exposures, designed to provide everyday investors access to private equity investments with lower minimums and no accreditation requirements. Expected launch is in early 2026, pending regulatory approval.

How successful have Capital Group and KKR's previous joint funds been?

Their first two public-private credit interval funds, launched in April 2025, have attracted over $100 million in flows within the first three months, with financial advisors from more than 100 firms participating in their education programming.

What are the benefits of KKR's new public-private equity fund for investors?

The fund offers access to private market investments without accreditation requirements, lower investment minimums, and combines public and private equity exposure in a single, integrated solution for enhanced returns and portfolio diversification.

What future plans do Capital Group and KKR have for their partnership?

They are developing additional public-private investment strategies, including access to KKR's real assets strategies, and exploring opportunities in model portfolios and target date funds.

When will the Capital Group KKR U.S. Equity+ fund be available?

The fund is expected to launch in early 2026, pending regulatory approval from the SEC.