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KKR places $1.1B bet on high-risk CMBS

KKR places $1.1B bet on high-risk CMBS

KKR is betting $1.1 billion on the riskiest commercial mortgage backed securities, trying to capitalize on new rules under the Dodd-Frank Act. The private equity firm closed on an investment fund to buy so-called CMBS B pieces. In December federal risk retention rules went into effect, requiring CMBS issuers to keep 5 percent of bonds on their books. Issuers could get around that requirement if they sold off the riskier B notes to an investment […]

Source: realdeal


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