KKR

The loans typically don't qualify for being bundled into bonds supported by Fannie Mae or Freddie Mac — government-backed companies that guarantee most US mortgages for investors.

KKR is buying CCC loans as they are "purged" from fund managers with less risk appetite. Since so much demand has been sucked out of the market, Sheldon and Reback said they believe some parts of the CCC markets are "oversold."

KKR has been rapidly seeking to expand its asset-based financing business, which has about $48 billion in assets since starting up in 2016.

Synovus Bank — whose parent company is Synovus Financial — sold the $373 million portfolio to private credit funds and accounts managed by KKR.

Lenders and borrowers have just a few months to negotiate how they're going to ditch the disgraced Libor benchmark in the leveraged loan market, and time is of the essence.

Healthcare companies used to be some of the safest to lend to during economic downturns, until private equity firms bought them out and larded them with debt.

KKR & Co. is looking to grow its asset-based private lending business to capitalize on a retreat by banks and more traditional market participants in the wake of the coronavirus pandemic that has led to mis-priced risk.

The corporate aircraft finance specialist had previously only pooled jet purchase and lease agreements acquired from GE Capital.

KKR is sponsoring its first middle-market CLO transaction stemming from its direct lending partnership established last year with FS Investments, according to presale reports.

The transaction is one of only three CRE CLOs issued post crises with a collateral balance of $1.0 billion or more, according to Kroll Bond Rating Agency.