KKR, a leading global investment firm, today announced the final closing of KKR Special Situations Fund L.P. (“KSSF” or the “Fund”), a $2.0 billion global fund focused primarily on distressed and event-driven investments. The Fund, for which KKR began soliciting third party capital in 2012, received strong backing from a diverse group of new and existing global investors, including public and corporate pensions, sovereign wealth funds, insurance companies, foundations, private banking platforms, family offices and individual investors. The Fund closed at two times its original target of $1 billion. Commenting on KSSF, Jamie Weinstein, Co-Head of Special Situations, said, “We are pleased we were able to attract such a diverse mix of new and existing KKR investors to the Fund and the strategy. We are very optimistic about the global opportunity set and continue to find attractive ways to put capital to work.” Launched in 2010, KKR’s Special Situations platform is part of KKR’s $20.9 billion credit business, which is expected to grow to approximately $29 billion with close of the announced acquisition of Avoca Capital. The global special situations strategy is managed by Co-heads Nat Zilkha and Jamie Weinstein. The global team includes 15 dedicated investment professionals located in London, New York, San Francisco and Sydney and is supported by the broader KKR Asset Management credit investment team, comprised of over 40 dedicated credit investment professionals. The special situations strategy invests across the capital structure in both privately negotiated transactions and in the secondary markets, seeking to earn strong risk adjusted returns from market dislocations, complex situations and distressed assets. KKR employs a partnership approach when working with companies and seeks unique opportunities to offer solutions to its various counterparties. The special situations strategy is dynamic and able to deploy capital in multiple ways in order to capture opportunities arising from market dislocation.