M&A - KKR Income Opportunities Fund

Form Type: DEF 14A

Filing Date: 2024-12-23

Corporate Action: Merger

Type: New

Accession Number: 000119312524284310

Filing Summary: KKR Income Opportunities Fund is seeking approval from its shareholders for the issuance of additional common shares as part of a proposed merger with the Insight Select Income Fund. This merger aims to transfer all assets and certain liabilities of the Insight Select Income Fund to KKR Income Opportunities Fund at net asset value, which is referred to as the 'Reorganization'. A special meeting will take place on January 10, 2025, to vote on this proposal. The merger is proposed to increase the assets under management of the Acquiring Fund and is expected to create potential economies of scale, potentially lower annual operating expenses, and improve secondary market trading. Shareholders from both funds will need to approve the transaction for it to occur. The new shares will be issued based on the relative net asset values of the Acquiring and Acquired Funds. The document discusses the management fee adjustments, implications for shareholders, and the expected timeline for the Reorganization, which will conclude in the first quarter of 2025. Notably, the Reorganization is anticipated to be non-taxable for shareholders of the Acquiring Fund, and steps for proxy voting are detailed, encouraging shareholder participation regardless of shareholding size.

Document Link: View Document

Form Type: PRE 14A

Filing Date: 2024-11-27

Corporate Action: Merger

Type: New

Accession Number: 000119312524266307

Filing Summary: KKR Income Opportunities Fund has filed a preliminary proxy statement to solicit votes from its shareholders for a special meeting scheduled on December 20, 2024. The key proposal involves the issuance of additional common shares of beneficial interest in the Acquiring Fund related to the transfer of all assets and certain liabilities from the Insight Select Income Fund, referred to as the Reorganization. The Acquiring Fund aims to increase its assets under management to enhance economies of scale, potentially lower annual operating expenses, and improve market trading conditions. The Acquiring and Acquired Funds will restart with no changes to investment objectives or strategies. Shareholders of both funds must approve the respective Reorganization Agreement and issuance of new shares for the merger to proceed. Further details include the potential tax-free status of the Reorganization for shareholders, management fee adjustments during the transition, and expectations of continued monthly distributions to shareholders post-Reorganization. Shareholders are encouraged to vote promptly whether they plan to attend the meeting or not.

Document Link: View Document