Global Investment firm KKR closed its first asset-backed finance fund with about $2.1bn from investors who are increasingly turning to collateral-based cash flows with attractive yields to beat market volatility.
KKR’s Asset-Based Finance Partners fund drew from a diverse group of new and existing investors, including public and corporate pensions, sovereign wealth funds and commercial banks, and about $150m from KKR.
KKR has so far deployed more than $6bn across 54 ABF investments globally since 2016 through a combination of portfolio acquisitions, platform investments and structured investments, according to a statement.
As of March 31, it was managing nearly $184bn of credit assets globally, including about $71bn in private credit.
Read more: Reuters
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