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(Reuters) – Global investment firm KKR said on Friday funds managed by its credit business has purchased a $7.2 billion portfolio of super-prime recreational vehicle (RV) loans from BMO Bank National Association, part of the BMO Financial Group.
The deal is in line with KKR’s strategy of making credit investments that are privately negotiated and are backed by a diverse pool of assets.
BMO will continue to service the super-prime RV loans, which are secured loans with the least amount of risk to lenders.
Kennedy Lewis Investment Management LLC also participated in the transaction, alongside KKR and other investors.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Krishna Chandra Eluri)
