KKR Gets $3.35 Billion for Distressed Fund as Defaults Loom

  • Focus will be on U.S., where credit cycle is in 'late stages'
  • Distressed oil producer debt not yet cheap, fund co-head says

KKR's $3.35 Billion Call on U.S. Distressed Assets

KKR & Co. raised $3.35 billion for its second special-situations fund, exceeding its $3 billion target, as the private equity firm sees a corporate default cycle on the horizon.

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