KKR, Partners Launch $10B+ AI Infra Platform
KKR, alongside the Kuwait Investment Authority, NVIDIA, and Vistra, launched Helix Digital Infrastructure, a new platform focused on financing, developing, and managing AI-related infrastructure, debuting with more than $10B in long-term capital commitments. Former Amazon Web Services CEO Adam Selipsky leads the platform, which will deploy capital across data centers, power generation, transmission infrastructure, and connectivity assets.
In other fund news, London-based Gravis Capital Management is reportedly planning to launch a €1B closed-ended asset-backed finance fund targeting mid-market infrastructure debt — a departure from the firm's existing LSE-traded listed structures. And Astorg pushed back on reports that Astorg IX, its ninth flagship fund, has failed to reach a first close after six months in market; speaking at SuperReturn International, head of Astorg Mid-Cap Lionel de Posson said the firm has seen LP interest from both existing and new investors, though declined to comment on close timing.
On the allocator side, CalPERS disclosed $20.24B in commitments made in Q4 2025 across fixed income, private equity, venture capital, real estate, and infrastructure, led by a $3B global fixed income mandate to Grantham, Mayo, Van Otterloo & Co. and $2B to PIMCO for an emerging market sovereign local currency strategy. The Los Angeles County Employees Retirement Association approved about $800M in commitments at its June 10 meeting, including €341M to Triton Fund 6, a European middle market buyout fund, and $200M to Court Square Capital V.
In people news, CalPERS promoted Anton Orlich to deputy CIO for private markets — succeeding Daniel Booth, who stepped down in October — and hired Derek Walker as managing investment director for total fund portfolio management. Orlich will oversee private equity, private credit, real estate, infrastructure, and other alts; Walker joins from CPP Investments and will lead CalPERS' transition to a Total Portfolio Approach, set to launch this July.
Read on for all the day’s headlines.
May's Fundraising Market Had One Clear Signal: Targets Were Too Low
Bain Capital closed at $10.5B against a $7B target. Kayne Anderson had to raise its hard cap. THL, Apollo, and Water Street all closed oversubscribed.
For managers with established track records, May wasn't difficult. It was constructive — almost unusually so.
Meanwhile, pension capital committed hit $25.1B, nearly 56% above April's $16.1B.
The capital is moving. The question is whether you're seeing it in time.
Dakota's May Fund Launches & Closes tracks where it went — and what's still in market.
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