Specific details remain very much in flux, including staff (it would be hiring from the outside), structure (either dedicated fund or, possibly, off balance sheet) and size (most likely $1b-$2b).

KKR has dipped its toe into this space a couple of times, with deals for companies like Sonos and Fotolia. It also partnered in 2000 on the creation of Accel-KKR, which today operates as an independent private equity firm focused on lower middle-market software and tech-enabled services businesses.

This new effort, if it comes to pass, would be more of an in-house, institutional effort. The main selling point would be the firm’s global network of operating expertise, both for M&A and expanding into new markets.

KKR declined to comment.

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