KKR & Co. L.P. (NYSE:KKR), a leading global investment firm, today announced that the acquisition of European credit manager Avoca Capital (“Avoca”) has received all necessary regulatory approvals and the transaction has closed. Alan Burke, Co-Chief Executive of Avoca, stated: “We are delighted to have received the necessary regulatory approvals and formally completed the transaction with KKR. The response from our staff, investor base and corporate clients to the announcement of the transaction with KKR has been very positive. We look forward to working with our new colleagues in providing flexible debt capital to our corporate client base across Europe in the coming years.” With the addition of Avoca’s $8.4 billion in assets under management, KKR has over $30 billion in credit assets in its multi-strategy credit platform operating globally in Dublin, New York, London, San Francisco and Sydney. Investment strategies cover the entire capital structure in credit from senior loans to long short credit, structured credit, convertible bonds, mezzanine, and special situations. Craig Farr, Member and Head of KKR’s credit and capital markets businesses, added: “KKR is committed to our European corporate and sponsor clients as we have demonstrated over the past several years through various forms of capital and operational support. We have provided substantial capital to European corporate partners, and we expect this trend to continue over the coming years as banks in Europe continue to deleverage. We look forward to working with the Avoca team and being in a position to provide an enhanced credit product offering in the future.” As previously announced, all Avoca employees in Dublin and London are joining KKR and KKR expects to grow its presence in Ireland in the future. At close, KKR now offers local experience as well as debt and equity capital for corporate clients both in Ireland and across Europe to help them grow and compete in the global economy.