Corporate Capital Trust II Granted Exemptive Relief By SEC
The Securities and Exchange Commission issued an order granting exemptive relief to Corporate Capital Trust II, a business development company managed by CNL Financial Group and KKR & Co., which allows the company to participate in directly negotiated investments alongside other pools of capital managed by its advisors and their affiliates, including Corporate Capital Trust and other investment funds managed by KKR.
“With exemptive relief, Corporate Capital Trust II will now have the ability to diversify and expand its investment opportunities more than ever before,” said Thomas Sittema, CEO of Corporate Capital Trust II. “We believe this will provide a broader range of opportunities and better enable us to deliver quality, risk-adjusted earnings to our shareholders.”
The order also permits the company to invest in transactions where KKR has greater control over the structure and terms of deals, which according to Corporate Capital Trust II, creates additional shareholder value through proprietary sourcing, credit selection, underwriting and ongoing monitoring.
Corporate Capital Trust II was launched in October 2015 and has raised $82 million in investor equity since inception. The company’s portfolio is comprised of investments in 56 companies totaling $78.4 million, according to Summit Investment Research.
CNL Financial Group is a private investment management firm providing real estate and alternative investments that, along with its affiliates, has formed or acquired companies with more than $34 billion in assets. KKR is a global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds.
