Capital Group and KKR expand their alliance with a public-private credit fund for Europe and Asia-Pacific
27 MAY, 2026
By Joanna Piwko from RankiaPro Europe
Capital Group and KKR have announced the expansion of their global alliance with the launch of Capital Group KKR Global Multi-Sector+ (GMS+), their first public-private investment strategy aimed at eligible investors in Europe and the Asia-Pacific region.
The new fund combines exposure to public and private markets in a single structure, with the aim of offering a comprehensive multi-segment credit solution.
A commitment to combining public and private credit
The launch comes in a context where investors, wealth advisors and clients are increasingly valuing the combination of public and private assets to access a broader range of market opportunities, improve diversification and aspire to differentiated returns.
In line with the category of public-private strategies jointly developed by both managers, the fund plans to allocate approximately 60% of the portfolio to public credit assets managed by Capital Group and 40% to private credit assets advised by KKR. The strategy will be managed by Capital Group, with the support of KKR as an advisor.
Initial distribution and income target
GMS+ is the first fund that both firms launch in Europe and Asia-Pacific within their global alliance. In an initial phase, it will be available through HSBC Private Bank in certain markets.
The vehicle aims to provide a high level of current income by investing in multiple sectors, both in listed fixed income securities and in private credit instruments. In addition, it will offer monthly repurchase opportunities of up to 3% of the fund's assets, a level of liquidity higher than what is usually common in private credit funds.
To date, Capital Group and KKR had already launched two public-private credit strategies and a public-private equity strategy in the United States, thus consolidating their joint commitment to these types of hybrid solutions.
When we announced the strategic alliance with KKR two years ago, we said it marked the beginning of a long-term collaboration. Today we expand that commitment by bringing our first public-private strategy to investors in Europe and the Asia-Pacific region. GMS+ is a comprehensive credit solution designed to sit between traditional bond funds and alternative investments, offering the potential for higher returns, lower volatility, and greater diversification.
Guy Henriques, President of Capital Group Distribution in Europe and Asia - Pacific
Having a single point of access to invest on a large scale in public and private markets with top-tier managers represents a very attractive value proposition. Through our strategic alliance with Capital Group, we are demonstrating the value of offering a comprehensive solution that combines nearly 150 years of investment leadership from our firms, deep credit expertise, and a shared commitment to training and customer service.
Eric Mogelof, partner and director of Global Solutions for KKR Clients
In the current environment, professional investors are looking for more comprehensive ways to diversify their portfolios and achieve differentiated results. Our collaboration with Capital Group and KKR reflects HSBC's commitment to connecting clients with innovative solutions that combine leading capabilities in public and private markets within an integrated investment approach, enhancing diversification and complementing existing portfolio allocations.
Lavanya Chari, Director of Wealth and Premier Solutions at HSBC
