KKR secures $1.7 billion for special situations fund

April 22, 2015 2:09 PM

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April 22 (Reuters) - Private equity firm KKR & Co LP has secured $1.7 billion for its second special situations fund, which is seeking to raise as much as $3 billion in all to invest in distressed assets, according to people familiar with the process.

The fund, dubbed KKR Special Situations Fund II, held a so-called close on that $1.7 billion last week, the people said this week. The fundraising is continuing and underscores how private equity firms have diversified beyond buying and selling companies to investing in all levels of a company's cap...

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