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KKR shuts down two funds for individual investors

11 Feb 2014

new york 5_sqPrivate equity major KKR has decided to close two of its mutual funds for individual investors.

KKR said its KKR Alternative High Yield Fund and Alternative Corporate Opportunity Fund will be liquidated around the end of March, according to documents filed with the US Securities and Exchange Commission.

The high yield fund was focused on acquiring junk bonds and the corporate opportunity vehicle targeted special situations including distressed debt.

KKR said in the filings that the funds will seek to convert their portfolios to cash or cash equivalents.

“The funds may depart from its stated investment objective and policies as it prepares to distribute its assets to shareholders,” said the firm.

Last month KKR held a $2bn final close on a new distressed lending fund targeting North American, European and Asian businesses.

KKR collected $8.3bn for its latest flagship North American fund towards the end of last year, followed by completing a $1.5bn real estate fundraise.

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