KKR & Co. is seeking regulatory approval to give accredited individuals the ability invest in the private equity giant’s $49 billion infrastructure business.
The entity, a holding company known as KKR Infrastructure Conglomerate or K-Infra, will allocate about 85% of assets to the firm’s global infrastructure investments, with the rest in cash and other liquid instruments, according to a Securities and Exchange Commission filing Friday. K-Infra will pay quarterly distributions and periodically be able to repurchase a limited number of shares from investors.
Alternative asset managers are seeking ways to attract retail investors as institutional clients such as endowments and pension funds run up against limits on how much they can allocate to private equity. KKR manages about $70 billion in private wealth assets, investor relations chief Craig Larson told analysts during the firm’s second-quarter earnings call. It launched a real estate investment trust last year and a credit fund in 2020, both targeting accredited investors.
Read more: BNN Bloomberg
