KKR Doubles Private Debt Deals to $80 Billion as AI Spending Explodes

KKR logo on mobile phone screen (Credit: Photo: Shutterstock)

Caroline Ryan

Wed, September 16, 2026 at 11:48 PM GMT+3 2 min read

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KKR & Co. (NYSE:KKR) has expanded its private investment-grade financing business this year, with deal activity reaching more than twice last year's level as borrowers seek more flexible alternatives to traditional bank financing.

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KKR structured or syndicated more than $80 billion of private investment-grade transactions during the first half of 2026, according to a company presentation reviewed by Bloomberg. By Sept. 1, the firm had surpassed twice the amount it originated throughout 2025.

Chris Sheldon, KKR co-head of credit and markets, stated that insurance capital is supporting many of these deals, as companies increasingly move assets off their balance sheets to raise cash while maintaining their credit ratings.

The firm has raised approximately $15 billion for credit from third parties so far this year, up 29% from the same period last year, the presentation noted.

The firm has structured deals for borrowers such as Kuwait Petroleum Corp., Enbridge Inc. and Samsung Electronics.

Sheldon also noted that the demand for AI infrastructure will drive demand for private credit over the next five years, and spending might outpace the $7.6 trillion of available capital.

KKR was part of a group of six asset managers that announced a partnership last month with NVIDIA Corp. to mobilize more than $500 billion of third-party capital for the buildout of AI infrastructure over time.

Private credit funds have been experiencing turmoil in the market this year amid rising concerns about asset quality and valuations, particularly in software lending.

KKR's private credit fund for wealthy clients outside the U.S. saw redemption requests ease, even as withdrawl pressure continues across the North American private credit market.

KKR-Income Trust I, a non-traded private credit fund which serves investors in Europe, the Middle East, Africa and the Asia-Pacific region, received withdrawal requests equal to approximately 2.5% of its net asset value in the third quarter.

Photo: Shutterstock

This article KKR Doubles Private Debt Deals to $80 Billion as AI Spending Explodes originally appeared on Benzinga.com

KKR Doubles Private Debt Deals to $80 Billion as AI Spending Explodes

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