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.
KKR Asset Management today announced the final close of its mezzanine fund, KKR Mezzanine Partners I, on August 31, 2011.
In total, the fund closed on over $1.0 billion from a diverse group of global investors, including insurers, pension plans, family offices and sovereign pools of capital. Recent transactions include providing the mezzanine financing that facilitated Advent International Corp.’s and Bain Capital Partners’ acquisition of payment processor RBS WorldPay, Bain Capital Partners’ acquisition of chemical distributor IMCD Group and supporting the sale of Kroll Inc to Altegrity Inc, an international screening and security solutions company owned by Providence Equity Partners.
“We have a healthy pipeline of opportunities and look forward to putting this additional capital to work by continuing to partner with private equity sponsors and management teams to support their objectives,” said Frederick M. Goltz, head of KKR’s mezzanine business.
About KKR Asset Management
Launched by KKR in 2004, KAM invests on behalf of its managed funds, clients and accounts across long/short equities and the corporate credit spectrum, including secured credit, bank loans and high yield securities and alternative assets such as mezzanine financing, distressed investing and structured finance. With more than 100 employees, including 50 investment professionals, KAM’s investment teams are closely aligned with KKR’s wealth of private equity investment and industry resources. As of June 30, 2011, KAM has $14.9 billion in assets under management.
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $61.9 billion in assets under management as of June 30, 2011. With offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with investors through its client relationships and capital markets platform. KKR is publicly traded on the New York Stock Exchange (NYSE: KKR).