Friday, 31 October 2014
Last updated 1 hour ago
Feb 11 2014 | 1:17pm ET
Kohlberg Kravis Roberts is pulling the plug on its mutual fund effort after less than two years.
The private-equity giant launched its Alternative High Yield and Corporate Opportunities funds in 2012. But the funds collected only $33 million from investors, victims of competition and an onerous application process, according to published reports.
The funds have stopped accepting new money and will liquidate by around March 31.
Alternative High Yield failed to find a foothold in a competitive space, according to The New York Times, while Corporate Opportunities was felled by its difficult application process and the unpopularity of its quarterly liquidity provision.
KKR had seeded the funds with $125 million of its own capital.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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