Corporate Capital Trust II Breaks Escrow
Corporate Capital Trust II, a publicly registered non-traded business development company, has successfully met its minimum offering requirement and commenced investment operations. Corporate Capital Trust II broke escrow with $5 million, which was contributed by the company’s advisors, CNL and KKR.
The company is offering up to 275 million shares of its common stock on a continuous basis, at an initial offering price of $9.45 per share. Corporate Capital Trust II intends to invest primarily in the debt of privately owned U.S. companies, with a focus on originated transactions sourced through the networks of its advisors.
“We are pleased to announce the launch of Corporate Capital Trust II,” said Tom Sittema, chief executive officer of Corporate Capital Trust II. “Similar to what was created with Corporate Capital Trust, we have worked diligently to develop a company that we believe will resonate with prospective shareholders.”
Erik Falk, board member of Corporate Capital Trust II and global head of private credit at KKR adds, “We are excited to begin investment operations in this new company. Amid the current market volatility, we believe we will continue to see a broad set of investment opportunities in private U.S. companies and look forward to building a solid portfolio in which shareholders can invest.”
CNL Financial Group is a private investment management firm providing global real estate and alternative investments. Since its inception in 1973, CNL Financial Group and/or its affiliates have formed or acquired companies with more than $33 billion in assets.
KKR & Co. L.P. is a global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.
