KKR Closes Mezzanine Fund with $1B

KKR Asset Management said Friday that it has closed its mezzanine fund, KKR Mezzanine Partners I, with more than $1 billion in commitments. The fund is backed by unnamed investors including insurers, pension plans, family offices and sovereign funds. Formed in 2004 by Kohlberg Kravis Roberts & Co., KKR Asset Management invests across secured credit, bank loans and high yield securities and alternative assets such as mezzanine financing, distressed investing and structured finance.

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