KKR will launch a new closed-end fund to invest in fixed-income securities, including loans, The Wall Street Journal reports. The KKR Global Credit Opportunities Fund will seek to invest about 80% of its capital in secured and unsecured loans, fixed-rate securities and credit default swaps.
The vehicle will target distressed securities, certain equity securities, and structured products with embedded derivatives, swaps, futures and options. KKR Asset Management will be the investment advisor of the new fund, which will be listed on the New York Stock Exchange.
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