– KKR is seeking to raise $1.5 billion for its third "special situations" fund, according to a Reuters report. Those funds invest in bonds of companies about to enter bankruptcy. The private-equity firm raised $2 billion for its first such fund in 2014, and $3.
35 billion for its second fund in 2016.– Invesco is cutting staff to help meet an annual cost-savings target of $475 million, according to the Financial Times. The asset-management firm has been cutting jobs after buying smaller rival OppenheimerFunds, a deal announced last October and closed earlier this year.
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