KKR Credit has held a final close of KKR Lending Partners II LP (Fund II), a $1.3 billion fund focused primarily on privately-originated senior loans. The new fund is the successor fund to KKR Lending Partners I LP which exited its investment period in December 2014. Fund II, which KKR began fundraising in early 2014, held its first close in June 2014 and began investing its capital shortly thereafter.
Fund II received backing from a group of new and existing investors, including public pensions, insurance companies, private banking platforms, family offices and individual investors. “We are very pleased that we were able to attract a nice mix of new and existing KKR direct lending investors to the fund. We have a strong pipeline and are very optimistic about the opportunity set,” said Erik Falk, Co-Portfolio Manager of the Fund II.
KKR Credit was launched by KKR in 2004, to invest in bank loans, high yield securities, and alternative credit such as direct lending, mezzanine financing, and special situations. KKR Credit had $26.9 billion in assets under management as of December 31, 2014. KKR Credit has approximately 100 investment professionals and is based in New York (www.kkr.com/businesses/credit).
According to Chris Sheldon, Co-Portfolio Manager for Fund II, “The lending landscape is being reshaped by a variety of factors, including geopolitical change, macroeconomic factors, and the regulatory environment – and we believe we are well positioned to drive high-quality, originated deal flow for our direct lending business.”
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).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-17-15
