Alternative investor Altegris has launched the Altegris KKR Commitments Fund (the “Fund”). The Fund will allow accredited investors to invest in certain KKR investments by committing to three different forms of private equity – primaries, secondaries and co-investments. A key factor in this new fund is the required minimum investment of $25,000, a lower minimum access point than traditional private equity investments.
“Accredited investors will now have the opportunity to access many of the same KKR private equity funds that institutional investors have had access to for years,” said Jon Sundt, CEO of Altegris.
Altegris was founded in 2002 and was acquired by Genworth Financial in 2010. Genworth sold its stake in the firm in 2013 to Aquiline Capital Partners and Genstar Capital Management. Altegris is based in La Jolla and has approximately $2.6 billion in assets under management (www.altegris.com).
Altegris is the Fund’s primary investment adviser and StepStone Group, which will also advise the Fund on primary, secondary and co-investment opportunities, is the Fund’s subadviser.
“We are pleased that Altegris has decided to bring individual investors the opportunity to invest in private equity, with a focus on KKR private equity, through this new and innovative fund,” said Suzanne Donohoe of KKR. “KKR looks forward to the fund’s investments in KKR private equity offerings as selected by Altegris and StepStone.”
KKR makes private equity, fixed income and other investments in companies in North America, Europe, Asia and the Middle East. The firm has $90 billion in assets under management. KKR was founded in 1976 and in addition to its New York headquarters the firm has offices in Menlo Park, San Francisco, Houston, Washington DC, London, Paris, Hong Kong, Tokyo, Beijing, Mumbai, Dubai and Sydney (www.kkr.com).
StepStone invests in private equity funds, secondaries, co-investments, and mezzanine debt. The firm oversees more than $60 billion of private equity allocations, including approximately $12 billion of assets under management. The firm has offices in New York, London, San Diego, Beijing, San Francisco, Hong Kong, Sao Paulo and Seoul (www.stepstoneglobal.com).
“We are very pleased to advise this innovative alternatives investment product,” said Monte Brem, StepStone’s CEO. “Our global platform and proven research-focused investment approach positions us to assist Altegris in its goal of creating a top performing portfolio of alternative investments.”
More information about the Altegris KKR Commitments Fund can be found at www.altegris.com/kkr.
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-28-15
