KKR Injects $300 Million Into Struggling Private Credit Fund

KKR & Co. is injecting $300 million into a private credit fund it manages with Future Standard as performance continues to deteriorate.

KKR will invest $150 million in preferred equity and tender for $150 million of FS KKR Capital Corp. common shares at $11 per share, according to a statement Monday. The preferred equity is convertible to common shares if the stock price, which ended last week at $10.84, rebounds to $18.83.