KKR raises its hedge fund stake

After closing its $500M stock hedge-fund last month, KKR has pivoted itself back into the hedge-fund market by purchasing a 24.9% stake of BlackGold Capital Management, a $1.4B fund in the natural-resources and energy sector.

KKR is concentrating on diversifying its business, slowly moving into the hedge-fund sector from corporate buyouts.

The hedge-fund business of KKR currently includes a $10B fund of hedge funds, KKR Prisma, and its minority stakes in external funds.

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