KKR Hedges Its Bets

The private-equity giant adds a new hedge fund to its portfolio, marking its second foray into publicly traded investment vehicles

Private-equity giant KKR, known for its record-breaking RJR Nabisco buyout in the late 1980s, is moving deeper into the world of hedge funds. On Feb. 28 its KKR Financial LLC unit announced the launch of KKR Strategic Capital Fund. "It is anticipated that the fund will primarily focus on stressed and distressed opportunities and market dislocation investments," the firm said in a brief statement.

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