Crowe just became one of the biggest accounting firms to take PE money

Top 20 firm Crowe announced it will receive an investment from KKR, one of the largest private equity firms in the world. The deal is expected to close in the third quarter of 2026.

The money will go toward Crowe’s existing growth plan. That means more investment in:

• talent

• technology

• innovation

• new client capabilities

As part of the deal, Crowe will split its business into two pieces. Crowe LLP will handle attest work. Crowe Advisory LLC will handle non-attest services. KKR will invest in Crowe Advisory through its North America Fund XIV.

That structure is becoming the playbook for accounting firms taking outside capital. The audit side stays separate. The advisory side gets the investment.

Crowe CEO Steven Strammello said the partnership is about staying ahead of client needs. He said the investment will help Crowe put more money into its people, capabilities, and the quality the firm is known for.

Crowe is not a small shop testing the waters. The Chicago-based firm ranked No. 12 on Accounting Today’s 2026 Top 100 Firms list. It reported $1.4 billion in revenue, with 539 partners and more than 5,600 employees across 37 offices.

It also has a big global footprint. Crowe’s network includes more than 200 independent accounting and advisory firms across 130 countries. The firm recently invested in Crowe Advisory Services India.

KKR partner Chris Harrington said Crowe’s culture and talent helped it build strong client relationships. He said KKR plans to support the firm’s growth while keeping its values, independence, and client service intact.

That last part matters because every PE deal in accounting comes with the same question, can firms take outside money without losing what made them trusted in the first place?

Crowe is betting the answer is yes. And with a firm this size making the move, the PE wave in accounting just got harder to ignore.