M&A: KKR Income Opportunities Fund

Form Type: DEF 14A

Filing Date: 2024-12-23

Corporate Action: Merger

Type: New

Accession Number: 000119312524284310

Comments: 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.

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