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Laxman Pai, Opalesque Asia:

American alternative asset manager KKR & Co closed its first asset-backed finance fund with about $2.1 billion from investors who are increasingly turning to collateral-based cash flows with attractive yields to beat market volatility.

The KKR Asset-Based Finance Partners (ABFP), KKR's first fund dedicated to asset-based finance investments "ABF", will commit capital globally to privately originated and negotiated credit investments that are backed by large and diversified pools of financial and hard assets, with attractive risk-adjusted returns, said a press release from the global investment firm.

ABF drew from a diverse group of new and existing investors, including public and corporate pensions, sovereign wealth funds, and commercial banks, and about $150 million from KKR.

"The $4.5 trillion ABF market is one of the most compelling and fastest-growing opportunities within our private credit business today," said Dan Pietrzak and Matthieu Boulanger, Partners and Co-Heads of Private Credit at KKR.

"At the same time, investors are increasingly looking for solutions that can deliver collateral-based cash flows with attractive yield and downside protection in today's highly volatile and inflationary environment. We are seeing growing recognition of ABF as a standalone asset class that can deliver attractive risk-adjusted returns. Through the close of ABFP, we are pleased to play a leading role in meeting this demand while also se......................

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