Kohlberg Kravis Roberts, the US private equity firm, has more than tripled the target size of its new listed fund, KKR Private Equity Investors, to $5bn (€4bn), following massive demand from US and European hedge funds.

An investor in KKR funds said the buy-out firm informed investors in a letter last week that the fund, which originally targeted $1.5bn, would now raise $5bn. KKR will sell 200 million shares at $25 today, before they begin trading on Euronext's Amsterdam's exchange tomorrow. Morgan Stanley, Citigroup and Goldman Sachs are running the book for the listing.