KKR Asset-Based Income Fund has eliminated the 5% early repurchase fee that previously applied when investors tendered shares before the first anniversary of their purchase.
The change follows the fund’s conversion from a tender offer fund to an interval fund. Removing the early repurchase charge makes the fund’s periodic liquidity mechanism less costly for newer shareholders, although repurchase requests remain subject to the fund’s interval-fund terms and available capacity.
KKR also extended a temporary reduction in the adviser’s management fee. Although the standard fee is 0.50% of month-end net assets, the adviser currently charges 0.35%.
The reduced fee will now remain in effect until the later of May 3, 2031, or the date the fund’s aggregate net assets reach $3 billion. The previous asset threshold was $1 billion.
Together, the changes alter both the shareholder cost of accessing liquidity and the operating-expense structure applicable during the fund’s growth period. They are particularly relevant when comparing the converted interval fund with products that retain early repurchase penalties or higher management fees.
