Wednesday, 1 April 2015
Last updated 2 hours 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…