KKR Abandons Mutual Funds

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.


Lifestyle

Survey: Wall Street Banks Still Top Silicon Valley, Hedge Funds for Freshly-Minted MBAs

Jun 21 2016 | 9:01pm ET

Contrary to concerns that Wall Street isn't as appealing to new graduates as it...

Guest Contributor

The Future of the Blockchain in Financial Services Communications

Jun 17 2016 | 1:05pm ET

Over the past year, a large portion of the financial services industry has awakened...