• Leading global investment firms file for two public-private fixed income interval funds to launch in the U.S. in the first half of 2025, pending regulatory approval
• New category of public-private solutions to expand over time across multiple asset classes and geographies

Leading global investment firms Capital Group and KKR filed registration statements with the SEC for two public-private fixed income funds, Capital Group KKR Core Plus+ and Capital Group KKR Multi-Sector+, both of which are expected to launch in the U.S. in the first half of 2025, pending regulatory approval. The filings follow the initial announcement of the firms’ exclusive strategic partnership to create a new category of hybrid public-private investment solutions that will provide new ways for investors to incorporate private markets into their portfolios.

The two new strategies are expected to be offered through financial professionals to the U.S. wealth market. Select institutional investors may find the strategies relevant in their portfolios as well. The filings underscore the firms’ commitment to making private markets more accessible to a broader client base.

“As a firm, we do not enter a new market unless we are committed for the long term and believe we can offer something meaningful and durable for our clients,” said Holly Framsted, Head of Global Product Strategy and Development at Capital Group. “Our focus remains on delivering distinct solutions that serve unmet needs in investor portfolios. These strategies aim to solve the access gap that individual investors currently face when it comes to private investments, and we expect these two public-private strategies will be the first of many across asset classes and geographies.”

While Capital Group is responsible for the overall strategy, the two organizations intend to work closely together to deliver investment portfolios that thoughtfully combine public and private investments, with an aim toward solving distinct investor needs.

“KKR and Capital Group share a deep commitment to making private markets assets more accessible to individual investors,” said Eric Mogelof, Partner and Head of Global Client Solutions at KKR. “We are pleased to take this next step in our strategic partnership and look forward to offering additional solutions that bring our best‐in‐class private markets investment capabilities to a broader group of investors.”

The new public-private solutions platform seeks to deliver Capital Group’s public market capabilities combined with KKR’s extensive private markets expertise. Capital Group manages over $555B in public fixed income assets, while KKR manages over $100B in private credit assets.

Source: Capital Group