Thursday, 25 December 2014
Last updated 1 day 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.