Private credit funds and accounts managed by global private investment firm KKR have purchased a $373m portfolio of prime auto loans from Synovus Bank, in line with the firm’s asset-based finance (ABF) strategy.
KKR’s ABF strategy focuses on privately originated and negotiated credit investments that are backed by large and diversified pools of financial and hard assets.
KKR has made 65 ABF investments globally since 2016 through a combination of portfolio acquisitions, platform investments and structured investments.
The firm currently has approximately $42 billion in ABF assets under management and a team of more than 50 professionals directly involved in the ABF effort globally.
