KKR announced the closing of its newest fund.

The KKR European Fund V will focus on buyouts in Western Europe. The company announced this week that it has raised more than €5.8 billion from investors. In addition, the company will provide about $400 million of its own money.

“KKR has been investing in Europe for over twenty years and our position has never been stronger,” said Johannes Huth, Member, and Head of KKR Europe, the Middle East, and Africa operations. “We will invest our fifth European fund by maintaining the differentiated approach that has served us so well to date, combining our local country knowledge with the skill and insights of our sector teams to source and execute investments. Europe’s complex dynamics create significant opportunities to deploy capital and continue delivering value and outperformance for our investors.”

KKR European Fund V Predecessor Makes Announcement

Meanwhile, the predecessor to KKR European Fund V had an announcement.

KKR’s Europe Fund IV will sell UK life sciences company LGC Group. The fun will earn about three times the price it paid for LGC back in 2015. Under KKR’s leadership, LGC has grown aggressively making 15 acquisitions to expand the business.

“LGC is a good example of KKR’s successful approach in building great companies. We identified LGC as a strong and resilient business with significant potential for further growth,” said Edouard Pillot, Member and EMEA Head of Industrials at KKR. “It worked alongside management to support them in harnessing this potential. Tim and the LGC team have done an outstanding job over the past 4 years building LGC into a global leader. We wish them every success during their next stage of growth.”

Related: KKR & Co Reports 23% Drop in Quarterly Profits