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KKR targets retail investors with new debt funds

20 Jul 2012

Global buyout giant KKR is planning to launch two new debt funds aimed at retail investors, marking the global private equity giant’s latest attempt to diversify its operations beyond leveraged buyouts.

The firm has filed registration documents with the SEC for the two new vehicles – the KKR Alternative High Yield Fund and the KKR Alternative Corporate Opportunities Fund – both of which will be managed by the firm’s asset management arm in San Francisco.

The Alternative High Yield Fund is a mutual fund that will buy non-investment grade debt, according to one of the filings, while the Alternative Corporate Opportunities Fund is a closed-end fund that will also pursue debt investments.

The filings did not disclose the size of the funds.

KKR has recently been seen diversifying its strategy away from the large leveraged buyouts that have characterised the firm in the past, in a bid to produce steadier income streams as the number of opportunities within the leveraged buyout space declines.

Last month the firm closed its maiden natural resource and infrastructure funds, in addition to boosting its assets under management by $7.8bn – or 12.5 per cent – by acquiring fund of hedge funds manager Prisma Capital Partners.

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