UBS Wealth Management has raised $225 million from private clients for KKR’s flagship impact investing fund, part of the wealth manager’s pledge to divert $5 billion into investments related to the United Nation’s Sustainable Development Goals (UN SDGs).

The KKR Global Impact Fund, which launched in 2018, invests private equity into companies that provide commercial solutions that contribute measurable progress towards one or more of the UN SDGs.

“Specifically, the strategy is focused on opportunities where financial performance and societal impact are intrinsically aligned and there is no trade-off between posi...