K- FIT AND K - FITS
K-FIT and K-FITS are two non-exchange traded, perpetual-life Business Development Companies managed by FS/KKR Advisor, LLC that invest in private credit markets to generate current income for individual accredited and institutional investors.
- Company typePrivate
- Founded-
- Headquarters—
- Headcount—
- GTM typeB2C
- OfferingServices
What K- FIT AND K - FITS does
K-FIT and K-FITS are two non-exchange traded, perpetual-life Business Development Companies (BDCs) that seek to generate current income and, to a lesser extent, long-term capital appreciation by investing in private credit markets. K-FIT (KKR FS Income Trust) operates under SEC CIK 1930679 and K-FITS (KKR FS Income Trust Select) operates under CIK 1975736; both are structured with an indefinite duration and shares priced at periodic net asset value (NAV). The vehicles are managed by FS/KKR Advisor, LLC, a registered investment adviser under the Advisers Act of 1940 jointly operated by KKR Credit Advisors (US) LLC (a subsidiary of KKR & Co.) and an affiliate of FS Investments.
The funds invest in and lend to small to mid-sized private companies, generating revenue primarily through interest income, dividend income, and capital gains on portfolio investments. Distribution is conducted exclusively through financial advisors and registered investment advisers, principally via the FS Investments advisor network and KKR's institutional relationships, with shares sold at periodic NAV rather than on an exchange. Both vehicles serve individual accredited investors as the primary customer segment, with institutional investors (family offices, endowments, foundations) as a secondary segment. Investors gain access to private credit markets that are typically unavailable in retail channels and benefit from the perpetual-life structure's continuous operation, in contrast to finite-life interval fund structures.
The underlying technology and platform architecture are conventional BDC operations: SEC regulatory registration, NAV-based share pricing, an investor portal at secureaccountview.com, and back-office servicing through the FS/KKR Advisor platform. No proprietary technology, software product, app, or AI/ML capability is disclosed. Revenue mechanics flow from the underlying portfolio of private credit investments rather than from a software or technology licensing model, and pricing is governed by periodic NAV calculations and fund prospectus disclosures rather than tiered subscription pricing.
K- FIT AND K - FITS firmographics
Firmographics- Name
- K- FIT AND K - FITS
- Legal name
- KKR FS Income Trust
- Website
- https://k-fit.com
- Company type
- Private
- Operating status
- Operating
- Short description
- K-FIT and K-FITS are two non-exchange traded, perpetual-life Business Development Companies managed by FS/KKR Advisor, LLC that invest in private credit markets to generate current income for individual accredited and institutional investors.
- Ownership category
- akta.pro rank
K- FIT AND K - FITS industry classification
Industry- Product category
- Private Credit / Business Development Company (BDC)
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259), Other Financial Vehicles (52599)
- SIC
- Finance Services (6199), Investment Advice (6282)
- akta.pro primary industry
- BDC / Public Vehicle Venture Debt Providers (FSANAIAC)
- akta.pro secondary industries
- Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI), Private Credit — Royalty & IP-Backed Finance (FSAHAJAM)
Keywords
K- FIT AND K - FITS business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Marketing or Sales, Personnel, Technology or R&D, Infrastructure
Revenue model
- Investment Income from Portfolio Companies: As BDCs, K-FIT and K-FITS generate revenue primarily through interest income, dividend income, and capital gains from their investments in private portfolio companies. They lend to and invest in small to mid-sized companies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | NAV-based share pricing for perpetual-life BDCs |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
K- FIT AND K - FITS product offering
Product offeringCore offering
K-FIT (KKR FS Income Trust) and K-FITS (KKR FS Income Trust Select) are two non-exchange traded, perpetual-life Business Development Companies (BDCs) that invest in private credit markets. They seek to generate current income and, to a lesser extent, long-term capital appreciation by lending to and investing equity in small to mid-sized private portfolio companies. Shares are sold at net asset value (NAV) on a periodic basis through financial advisors and registered investment advisers to accredited investors.
Product overview
K-FIT and K-FITS are two distinct but related non-exchange traded, perpetual-life Business Development Companies (BDCs) managed by FS/KKR Advisor, LLC. Both products share the same investment objective of generating current income with secondary long-term capital appreciation through private credit investments. K-FIT serves as the primary offering while K-FITS operates as a parallel vehicle, each with their own SEC filings (CIK 1930679 and CIK 1975736 respectively). The products are structured as term-of-indefinite-duration vehicles whose shares are not listed on any securities exchange.
Differentiator
Problem solved
Functional benefit
Products and services
- K-FIT (KKR FS Income Trust) A non-exchange traded, perpetual-life Business Development Company that seeks to generate current income and long-term capital appreciation by investing in private credit markets. Sold to accredited investors via financial advisors at periodic NAV-based pricing.
- K-FITS (KKR FS Income Trust Select) A non-exchange traded, perpetual-life Business Development Company that seeks to generate current income and long-term capital appreciation through private credit investments, structured as a parallel offering to K-FIT. Sold to accredited investors via financial advisors at periodic NAV-based pricing.
Companies that use K- FIT AND K - FITS
Customer profileSegments2 records
Ideal customer profiles2 records
K- FIT AND K - FITS technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
K- FIT AND K - FITS partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- FS/KKR Advisor, LLCcoreFS/KKR Advisor, LLC serves as the registered investment adviser for both K-FIT and K-FITS. It is jointly operated by KKR Credit Advisors (US) LLC and an affiliate of FS Investments, combining KKR's private credit expertise with FS Investments' fund distribution capabilities.
Recent moves5 records
Expansion highlights4 records
K- FIT AND K - FITS competitors and assessment
Company assessmentDirect peers
- Ares Private Markets Fund: Non-traded BDC and private credit fund suite from Ares Management. Competes for the same advisor channel and accredited investor base with similar income-focused private credit strategies.
- Apollo Credit Income: Non-traded private credit offering from Apollo's credit franchise. Competes head-to-head with K-FIT and K-FITS for advisor-led private credit allocations from HNW investors.
- Blackstone Private Credit Fund (BCRED): The largest non-traded perpetual BDC, managed by Blackstone Credit. Directly comparable structure, investor base, and distribution via financial advisors for private credit exposure.
- FS KKR Capital Corp. (FSK): A publicly traded BDC advised by the same FS/KKR Advisor, LLC. Same investment team, same private credit strategy, same KKR origination engine — K-FIT and K-FITS are essentially the non-traded counterparts to FSK.
- Carlyle Credit Income Fund (CCIF): Non-traded BDC sponsored by Carlyle's global credit platform. Directly comparable in structure, target investor, and middle-market private lending focus.
- Bain Capital Private Credit: Sponsor-backed non-traded private credit fund targeting accredited investors through financial advisors. Comparable vehicle structure and middle-market lending strategy.
Broad incumbents
- Blue Owl Capital Corp. (OBDC): Largest publicly listed BDC, sponsored by Blue Owl Capital. Comparable middle-market direct lending strategy, but traded on the NYSE — provides a public-market pricing benchmark for K-FIT and K-FITS' NAV.
- Golub Capital BDC (GBDC): Public BDC focused on one-stop senior secured lending to middle-market companies. Serves as a public-market comp on portfolio composition, yield, and credit performance for non-traded BDC vehicles.
- KKR Real Estate Finance Trust (KREF): A KKR-sponsored mortgage REIT with similar advisor distribution and non-traded investor access. Different underlying asset class (commercial real estate debt vs. corporate private credit), but highly comparable platform and brand.
Emerging players
- Nuveen Churchill Direct Lending: Joint venture between Nuveen and Churchill Asset Management offering non-traded private credit funds. Overlaps in advisor-distributed middle-market lending but with a more focused sponsor base.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
K- FIT AND K - FITS financial estimates
Financial estimateRevenue estimate
Valuation estimate
K- FIT AND K - FITS leadership team
Management profileNumber of profiles
Profiles11 records
K- FIT AND K - FITS funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
K- FIT AND K - FITS M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about K- FIT AND K - FITS
What does K- FIT AND K - FITS do?
K-FIT (KKR FS Income Trust) and K-FITS (KKR FS Income Trust Select) are two non-exchange traded, perpetual-life Business Development Companies (BDCs) that invest in private credit markets. They seek to generate current income and, to a lesser extent, long-term capital appreciation by lending to and investing equity in small to mid-sized private portfolio companies. Shares are sold at net asset value (NAV) on a periodic basis through financial advisors and registered investment advisers to accredited investors.
Is K- FIT AND K - FITS a public or private company?
K- FIT AND K - FITS is a private company. It is classified as corporate owned and is currently operating.
When was K- FIT AND K - FITS founded?
K- FIT AND K - FITS was founded in -1.
How does K- FIT AND K - FITS make money?
One revenue line is on record: investment Income from Portfolio Companies.
Who are K- FIT AND K - FITS's main competitors?
Direct peers on record are Ares Private Markets Fund, Apollo Credit Income, Blackstone Private Credit Fund (BCRED), FS KKR Capital Corp. (FSK), Carlyle Credit Income Fund (CCIF) and Bain Capital Private Credit. Broad incumbents are Blue Owl Capital Corp. (OBDC), Golub Capital BDC (GBDC) and KKR Real Estate Finance Trust (KREF). Nuveen Churchill Direct Lending is listed as an emerging player.
Does K- FIT AND K - FITS have an API?
No public API is recorded for K- FIT AND K - FITS.
What industry is K- FIT AND K - FITS in?
K- FIT AND K - FITS's product category is Private Credit / Business Development Company (BDC). Its primary akta.pro industry code is FSANAIAC, BDC / Public Vehicle Venture Debt Providers, with a secondary code of FSAAABAI, Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit). Its NAICS code is 525 and its SIC code is 6199.