KKR Launches Akrapoint Commercial Capital With $350 Million Equipment Finance Commitment
KKR has launched a new equipment finance platform, Akrapoint Commercial Capital, with a $350 million commitment from funds managed through the firm’s asset-based finance strategy, according to a Sept. 22 press release.
Akrapoint will focus on mid-ticket equipment financing for small and middle-market businesses, targeting vocational assets, specialty trailers and industrial equipment across sectors including manufacturing, energy and power, sanitation and waste services, construction, and transportation and logistics.
The launch adds another well-capitalized platform to an equipment finance market that has continued attracting institutional investment.
Built Around Mid-Ticket Equipment Finance
Akrapoint is designed to work with manufacturers, equipment vendors and end customers, providing financing for equipment purchases tied to business growth and operating needs.
KKR said the platform will combine long-term capital with an experienced equipment finance management team.
The company is led by CEO Nate Smith, who most recently spent nearly a decade at Trans Lease, where he oversaw credit, portfolio management, funding and compliance.
Gary Shivers will chair Akrapoint’s board of directors. Shivers previously founded and scaled Navitas Credit Corp into a national equipment finance platform with more than $1.8 billion in assets, and earlier held leadership roles at Advanta Leasing and Marlin Business Services, now PEAC Solutions.
KKR Expands Its Asset-Based Finance Strategy
The $350 million commitment will come through KKR’s asset-based finance strategy.
KKR launched that strategy in 2016 and now manages more than $91 billion in asset-based finance assets, spanning commercial finance, hard assets, consumer and mortgage finance, and contractual cash flows. The firm also operates more than 20 captive asset-based finance platforms globally.
KKR said Akrapoint fits its broader investment thesis around long-term demand for essential equipment, particularly as reshoring, electrification and supply-chain investment continue driving capital expenditures.
Daniel Pietrzak, KKR’s Global Head of Private Credit, said the firm sees asset-backed equipment cash flows as providing attractive downside protection while matching well with long-duration capital.
Another Institutional Move Into Equipment Finance
Akrapoint is another example of institutional capital continuing to move into commercial and equipment finance.
Funder Intel has recently covered Northbase Finance securing up to $300 million from Oaktree, the Wafra acquisition of Navitas Credit, and CAN Capital’s equipment finance expansion through Republic Bank Finance.
Akrapoint enters the market with experienced operators, a defined middle-market focus and significant committed capital from day one.
That combination should make the platform one to watch as equipment finance continues to attract private capital.
