The KKR fund, often referred to by its ticker, FSK, has become one of the most visible fault lines in the private credit story.
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A JPMorgan Chase
-led group of banks cut their exposure to a private credit fund co-managed by KKR
days before the asset manager announced it was spending $300 million to prop up the troubled vehicle.
The fund, FS KKR Capital Corp., said Monday in a release that KKR will inject $150 million into the fund as equity and spend another $150 million to buy shares from investors who want to exit.
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