KKR launches pan-European credit fund for distressed assets
KKR has launched a pan-European credit fund aimed at distressed debt, initially targeting the Italian market.
The vehicle has agreed to acquire debt and equity assets worth up to €1bn from Italian banks IntesaSanpaolo and Unicredit.
Commitments to the vehicle, which will be managed by KKR's special situations team, have come from a variety of funds managed by the GP.
KKR has been actively investing in distressed assets in recent months. In May, the GP led a debt restructuring deal that saw a group of creditors take control of the insulation division of Uralita, a listed Spanish construction materials business.
More on Credit/Special Situations
Pillarstone aims for year-end close for industrials and shipping-focused fund
Italy-headquartered investor typically assists banks with managing underperforming assets
Inspirit holds GBP 75m final close for second fund, anticipates strong carve-outs dealflow
Fund was oversubscribed and closed following a three-month fundraising process
Carve-outs specialist Inspirit gears up for second fund
GP could aim to raise GBP 50m-GBP 100m for its next fund, Unquote reported previously
AnaCap spin-out Veld makes team changes as it looks to raise its next fund
Hiring of Richard Kirkby and promotion of Konstantin Karchinov and Sebastien Wigdo comes eight months into the firm’s existence as an independent entity
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater