KKR, an investment firm, has closed KKR Asset-Based Finance Partners.

The $2.1 billion fund will commit capital to credit investments backed by pools of financial and hard assets.

“The $4.5 trillion ABF market is one of the most compelling and fastest-growing opportunities within our private credit business today,” said Dan Pietrzak and Matthieu Boulanger, partners at KKR. “At the same time, investors are increasingly looking for solutions that can deliver collateral-based cash flows with attractive yield and downside protection in today’s highly volatile and inflationary environment. We are seeing growing recognition of ABF as a standalone asset class that can deliver attractive risk-adjusted returns. Through the close of ABFP, we are pleased to play a leading role in meeting this demand while also serving the financing needs of consumers and businesses globally.”