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KKR Files for New Public Funds

scott
edited July 2012 in Fund Discussions
http://www.marketwatch.com/story/kkr-funds-enter-through-the-front-gate-2012-07-29

"Until now. KKR is starting two mutual funds — a huge departure from the buyout industry’s standard practice of allowing only institutions and the super-wealthy to get in on its deals — with a target market of individual investors.

According to registration documents filed last week with regulators, KKR will be using its savvy in distressed securities in the KKR Alternative Corporate Opportunities Fund — a closed-end fund that will invest in stocks and bonds — and KKR Alternative High Yield Fund."

Comments

  • BWG
    edited July 2012
    The closed-end fund looks interesting. Are there any existing funds that currently operate in the same space -- special situations debt/distressed debt? I thought TFCIX would do well here but it has been ho-hum. Not sure which other funds operate in this space.

    Thanks in advance.
  • msf
    edited July 2012
    For distressed securities (not just bonds), Fidelity Leveraged Company Stock (FLVCX) comes to mind.

    There have been only a few fund managers known for vulture investing - Marty Whitman (Third Ave Value) and Michael Price (formerly of Mutual Series). Mutual Series funds seem to have done a good job in carrying forward Price's style of investing.
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