Key Takeaways
- • KKR has completed its first private credit continuation vehicle, raising more than $460m in commitments.
- • The transaction uses a secondary structure to provide liquidity to investors in ageing direct lending funds.
- • KKR joins a growing number of alternative asset managers using continuation vehicles in private credit.
Summary
KKR has completed its first private credit continuation vehicle, attracting more than $460m in commitments, according to AltAssets. The vehicle is designed to give investors in older direct lending funds a route to liquidity through a secondary transaction, rather than waiting for the fund to be wound down.
The move places KKR among a growing group of alternative asset managers using continuation vehicles to address the maturity of direct lending portfolios. Such structures allow a manager to transfer selected assets into a new vehicle, offering existing investors the choice to sell or roll their interests, while providing new capital to hold the assets for a further period.
The publisher's coverage is limited to the summary above, and the full article is behind a premium subscription. Further detail on the fund's target strategy, underlying assets, and pricing terms was not available in the source material reviewed.
The move places KKR among a growing group of alternative asset managers using continuation vehicles to address the maturity of direct lending portfolios. Such structures allow a manager to transfer selected assets into a new vehicle, offering existing investors the choice to sell or roll their interests, while providing new capital to hold the assets for a further period.
The publisher's coverage is limited to the summary above, and the full article is behind a premium subscription. Further detail on the fund's target strategy, underlying assets, and pricing terms was not available in the source material reviewed.
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