US buyout firm Kohlberg Kravis Roberts is set to beat market expectations and raise up to about €700m ($1bn) for a bailout package in the coming days to prop up a fund containing several of its most high profile European investments, such as Alliance Boots and NXP Semiconductor.

The fund is likely to achieve the top end of initial market expectations of about €400m to €700m, despite it being controversial with investors, according to two European KKR investors. KKR could not be reached for comment.