KKR Acquires $7.2B Portfolio Of Prime Recreational Vehicle Loans
Portfolio Pulse from Benzinga Newsdesk
KKR has acquired a $7.2 billion portfolio of super-prime recreational vehicle (RV) loans from BMO Bank National Association. BMO sold the loans and concurrently purchased about $6.4 billion of senior notes collateralized by the sold loans. BMO will continue to service and manage the RV loans. The transaction is part of KKR's Asset-Based Finance strategy, which has grown to $47 billion in assets under management. Kennedy Lewis Investment Management LLC also participated in the transaction.
December 15, 2023 | 9:16 pm
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POSITIVE IMPACT
KKR's acquisition of a $7.2 billion RV loan portfolio from BMO reflects a strategic expansion of its Asset-Based Finance business and could signal confidence in the RV loan market.
The acquisition is significant for KKR, indicating an expansion of its Asset-Based Finance portfolio. This could be viewed positively by investors as it demonstrates KKR's ability to execute large-scale transactions and its commitment to growing this segment of its business. The transaction may also reflect a positive outlook on the RV loan market, which could lead to increased investor confidence in KKR's credit strategy.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100