Corporate Capital Trust and KKR to Ring NYSE Opening Bell
November 13 2017 - 5:18PM
Business Wire
Corporate Capital Trust to list on the NYSE as
“CCT”
Representatives from KKR will ring the opening bell tomorrow
morning at the New York Stock Exchange (“NYSE”) to commemorate the
listing of Corporate Capital Trust, a business development company
(“CCT or the “the Company”). Eric Eversole, President of Hiring our
Heroes, a program KKR supports that is dedicated to helping members
of the military and their families, will join the Company in
ringing tomorrow’s opening bell.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20171113006398/en/
Following the bell, the Company’s common stock will begin
trading under the ticker symbol “CCT” and the Company’s new
investment advisory agreement with KKR Credit will become
effective.
“The listing is a great milestone for CCT shareholders and the
product of a very successful partnership between KKR and CNL,” said
Todd Builione, the incoming CEO of CCT and President of KKR Credit
and Capital Markets. “After the listing, shareholders will see an
immediate benefit from reduced fees and the ability to control the
liquidity of their holdings – while we expect CCT, as a listed
vehicle, will have improved access to capital markets solutions and
the ability to now reach institutional investors, among
others.”
As of September 30, 2017, CCT had over $4.4 billion in total
assets and investments in 105 portfolio companies, with 73% of the
portfolio in senior secured investments. CCT’s portfolio companies
are diversified across 21 industries. Since CCT’s founding, the
Company has lent approximately $8.9 billion to over 450
companies.
Upon listing, CCT will be the largest business development
company listed on the NYSE and the third-largest externally-managed
listed business development company.
About Corporate Capital Trust
Corporate Capital Trust is a business development company that
provides investors an opportunity to access the middle market
direct lending opportunity. The Company is externally managed by
KKR Credit and its investment objective is to provide shareholders
with stable recurring income generation. The Company intends to
meet its investment objective by investing primarily in the debt of
privately owned companies, with a focus on originated transactions.
For additional information, please
visit corporatecapitaltrust.com.
About KKR
KKR is a leading global investment firm that manages multiple
alternative asset classes, including credit, private equity,
energy, infrastructure and real estate, and, through its strategic
manager partnerships, hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined
investment approach, employing world-class people, and driving
growth and value creation with KKR portfolio companies. KKR invests
its own capital alongside its partners' capital and provides
financing solutions and investment opportunities through its
capital markets business. References to KKR’s investments may
include the activities of its sponsored funds. For additional
information about KKR & Co. L.P. (NYSE: KKR), please visit
KKR's website at www.kkr.com and on Twitter @KKR_Co.
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KKRKristi Huller or Cara Majormedia@kkr.com
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