NEW YORK May 1 Private equity firm KKR & Co LP
is working with a money manager to launch a closed-end
fund that accepts commitments as small as $10,000 and may make
shares available on a platform operated by Nasdaq Private
Market, a regulatory filing showed Thursday.
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
(Reporting by Sam Forgione)