KKR Credit Income Fund
Global private equity and alternative asset manager KKR & Co. has listed the KKR Credit Income Fund (KKC) on the Australian Stock Exchange through local affiliate KKR Australia Investment Management Pty Ltd.
The fund invests in global income-generating alternative credit investments via its investment across two KKR funds - the Global Credit Opportunities Fund and the European Direct Lending Fund. The fund is targeting a net annual distribution of between 4 to 6 per cent before tax.
Renown as Kohlberg Kravis Roberts & Co., KKR has long been active in the Australian private equity space, and notoriously private, but this is its first foray into public markets with a listed product.
Perpetual's The Trust Company (RE Services) Limited is the responsible entity for the fund. The fund has a management fee of 0.902 per cent and a management performance fee of up to 5.125 per cent, when certain conditions (including a performance fee) are satisfied.