Firm: Kohlberg Kravis Roberts & Co
Fund: Altegris KKR Private Equity Master Fund
Target: At least $25 million
The Altegris KKR Private Equity Master Fund, which has La Jolla, California-based Altegris Advisors LLC as its investment adviser, will allocate at least 70 percent of its assets to private equity funds affiliated with KKR, according to the filing with the U.S. Securities and Exchange Commission.
Shares of the fund will be sold to accredited investors, the filing said. Accredited investors have a net worth of $1 million, excluding the value of a primary residence, or an individual annual income over $200,000. The fund will not sell shares unless it raises at least $25 million, the filing said.
The filing has come after KKR disclosed on Feb. 10 that it would liquidate two funds targeting individual investors, which marked a blow to the private equity firm’s efforts to widen its appeal beyond institutional investors such as pension funds and insurance firms.
Sam Forgione is a correspondent for Reuters in New York.