Deals
KKR Is Near $3 Billion New York City Pension Pledge
- Commitment is latest in string of $1B-plus accounts since 2011
- Money would target private equity, credit, real estate deals
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KKR & Co. is close to clinching a $3 billion commitment from New York City’s pension system to invest in deals across the alternative-asset manager’s platforms, people with knowledge of the matter said.
The pledge is the latest in a string of separately managed accounts over $1 billion that have been formed to invest pension money in multiple strategies. The accounts are run by a single manager and typically offer breaks on fees.