Altegris has launched the Altegris KKR Commitments Fund offering accredited investors an opportunity to gain diversified exposure to KKR by committing to three different forms of private equity – primaries, secondaries and co-investments.
The minimum initial investment USD25,000.
"Accredited investors will now have the opportunity to access many of the same KKR private equity funds that institutional investors have had access to for years," says Jon Sundt, CEO of Altegris. "Altegris is providing investors with a portfolio spanning multiple private equity styles, geographic regions and life cycles, from newly established primary investment funds through mature secondary investment funds, all via a single subscription."
The Fund is registered under the Investment Company Act of 1940 as a closed-end investment fund, and its shares are registered for public offering under the Securities Act of 1933. The Fund offers a number of features to investors including diversification, 1099 tax reporting and no capital calls, all at a lower minimum access point than traditional private equity.
"We are pleased that Altegris has decided to bring individual investors the opportunity to invest in private equity, with a focus on KKR private equity, through this new and innovative fund," says Suzanne Donohoe, Member and Head of Client and Partner Group at KKR. "KKR looks forward to the fund's investments in KKR private equity offerings as selected by Altegris and StepStone."
The Altegris KKR Commitments Fund brings together one of the most established firms in private equity, KKR, with a leading alternative investment manager, Altegris, as the Fund's investment adviser, with the considered recommendations of the StepStone Group as the Fund's subadviser. StepStone oversees USD60 billion in private capital allocations, including USD12 billion of assets under management, with a team of 150 professionals. It is a premier global private markets asset manager and adviser. StepStone creates customised portfolios for sophisticated investors using a highly disciplined research-focused approach and will use its expertise to advise the Fund and Altegris on primary, secondary and co-investment opportunities, as well as provide guidance on portfolio construction.
"We are very pleased to advise this innovative alternatives investment product," says Monte Brem, StepStone's CEO. "Our global platform and proven research-focused investment approach position us well to assist Altegris in its goal of creating a top performing portfolio of alternatives investments."