- KKR (KKR) has terminated KKR Equities Strategies - its first stock hedge fund launched less than three years ago. The fund was made up of a dozen former Goldman Sachs (GS) traders, and was started by KKR to diversify its business.
- The termination was decided due to "lack of scale" and focus on other hedge fund products.
- Since its start in 2011, the fund reported an average annualized return of about 5%.
- At of the start of May, KKR Equities Strategies had about $510M under management. A third of the clients were from KKR, and there were less than 20 external investors.