Experience
Stradley Ronon Advises on Launch of Hybrid Interval Funds Formed in Strategic Partnership Between Capital Group and KKR
Stradley Ronon served as fund and board counsel in connection with the launch of two new interval funds that will provide new ways for investors to incorporate private markets into their portfolios. Formed through a strategic partnership between global investment firms Capital Group and KKR, the funds will offer investors a hybrid strategy that provides exposure to a mix of public and private credit across multiple asset classes, geographies and channels.
Capital Group KKR Core Plus+ will invest in publicly traded fixed-income securities and private credit loans and securities, including private corporate direct lending and asset-based finance investments, allocating about 60% to public debt (managed by Capital Group) and 40% to private credit (managed by KKR).
Capital Group KKR Multi Sector+ will also invest in publicly traded fixed-income securities and private credit loans and securities with a targeted 60-40 mix but in different segments. The public portion (managed by Capital Group) will focus on high-yield corporate debt (25%), investment-grade corporate debt (10%) and securitized debt (25%). As with the core fund, KKR’s private sleeve will focus on corporate direct lending and asset-based finance.
Nicole Simon, Michael P. O'Hare and Miranda L. SturgisRestructure of Concise Capital Management Master Feeder Hedge Fund
Stradley Ronon represented Concise Capital Management, an SEC-registered investment adviser with $400 million in AUM specializing in short-duration, under-followed, high-yield bonds, with restructuring a master-feeder hedge fund to add a new share class.
Thomas J. Herzfeld Advisors Restructures Master Feeder Hedge Fund
Stradley Ronon represented Thomas J. Herzfeld Advisors, a boutique alternative investment firm focused exclusively on the closed-end fund market, with restructuring a master-feeder hedge fund to add provisions for ERISA investors.
Katrina L. Berishaj
