KKR Raises $2 Billion Credit Fund to Invest in Distressed Debt

KKR & Co., the New York-based private-equity firm run by Henry Kravis and George Roberts, raised $2 billion for a fund that will provide financing to distressed companies globally.

KKR Special Situations Fund LP will invest in North America, Europe and Asia, according to Jamie Weinstein, the firm’s San Francisco-based co-head of special situations. Most of the distressed debt and rescue lending opportunities the firm sees are in Europe, where businesses are still de-leveraging after the 2008 financial crisis, he said.