Search
 

KKR to close two funds

The funds will stop accepting new money and existing investors can sell their shares or be paid by KKR when it liquidates the pools.

By Margaret Collins and Devin Banerjee | Updated on February 11, 2014

Feb. 10 (Bloomberg) — KKR & Co., the buyout firm run by George Roberts and Henry Kravis, will close down two funds targeting individual investors in a setback to private-equity firms’ attempts to attract money from individuals and eventually the $4 trillion market for 401(k) retirement plans.

The funds, started little more than a year ago to invest in high-yield debt and distressed companies, received $33 million from investors after New York-based KKR provided them with $125 million of its own capital to get started. The funds will stop accepting new money and existing investors can sell their shares or be paid by KKR when it liquidates the pools, according to filings today with the U.S. Securities and Exchange Commission.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.