Hedge Funds

KKR launches first hedge fund

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Private-equity giant Kohlberg Kravis Roberts launched its first hedge fund, the KKR Strategic Fund, on March 1.

The fund, managed by KKR Financial, focuses on distressed investment opportunities in U.S. markets and will also make loans to both public and private companies, according to the firm. KKR has not disclosed how much capital has been committed or how large it plans to grow the strategy.