Kohlberg Kravis Roberts plans to offer two mutual fund for individual investors, a move away from the asset management firm's history of catering only to institutions.

This diversification of the private equity firm's operations was reported by the Wall Street Journal and the New York Times. 

According to SEC filings, the firm's new mutual fund offerings will invest in high-yield bonds, as well as other debts.

The New York Times reports that KKR will apply its expertise in distressed investing to deliver returns on investments. One of the funds will be KKR Alternative Corporate Opportunities Fund, which will give investors exposure to fixed-income and equity securities. KKR will offer quarterly share repurchases.

The KKR Alternative High Yield Fund, the second offering, will invest at least 80 percent of its assets in corporate debt that is below investment grade.

Distributions to investors will be quarterly for both funds. 

Edited by: HFD


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