CNL Financial Group (CNL) has registered Corporate Capital Trust II, a second business development company (BDC) to co-advise with global investment firm KKR, the firm announced today from its Orlando, Florida, headquarters.
The new entity, expected to begin operations later this year, coincides with the fifth anniversary of the two firms’ partnership, as CNL and KKR first teamed up in 2010 and subsequently launched Corporate Capital Trust in 2011.
“Both CNL and KKR have a deep history of bringing leadership and innovation to the market,” CNL Founder and Executive Chairman James M. Seneff Jr. said. “Our combined expertise has made Corporate Capital Trust a truly unique opportunity for investors.”
CNL Financial Group (CNL) is a leading private investment management firm providing global real estate and alternative investments. Since inception in 1973, CNL and its affiliates have formed or acquired companies with more than $33 billion in assets.
“CNL has proven to be an excellent partner, and we are looking forward to building on this relationship for many years to come,” KKR Co-Chairman and Co-CEO Henry Kravis said. “A growing number of investors are seeking alternatives and Corporate Capital Trust has allowed us to reach them in new and different ways.”
KKR is a New York-based leading global investment firm managing across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The firm was recently ranked by the Dave Thomas Foundation for Adoption as number 12 on their top 100 list of Best Adoption-Friendly Workplaces, and it was also acknowledged as one of America’s Most Foster-Friendly Employers.
“Corporate Capital Trust was CNL’s first investment offering outside of real estate, and we could not have asked for a better partner for this venture,” Seneff said. “We have enjoyed our relationship with KKR and are excited to launch Corporate Capital Trust II as we enter the next phase of this collaboration.”