Kohlberg Kravis Roberts is preparing a first close of its latest fund at $10bn (€7.9bn) and is aiming to complete fundraising within 60 days, according to private equity investors.

The close comes as its rivals are preparing to raise other large funds. Apollo Management held a $10.1bn final close on its sixth buyout fund in February, breaking the record for the largest single pool of capital raised by a private equity firm.