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KKR Income Trust I (KIT)
Key Statistics
Fund Size
€1,367M
Target Return
9.7%
Annualized Return
10.3%
Launch Year
2024
Min. Investment
€100,000
Availability
Open through selected distributors
Structure
SCA SICAV-RAIF
Product Category
Open-end
Domicile
Luxembourg
GP Type
Single
Liquidity Level
Semi-liquid
Management Fee
1.25%
Carry
12.5% of net investment income over 5% annualised hurdle with catch-up; 12.5% of net realised capital gains
Hurdle Rate
5%
Catch-Up Mechanism
100% catch-up (income incentive fee, up to 5.72% annualised)
ISIN
LU2729850144
Currencies
USD, AUD, SGD
Investor Eligibility
Professional/Institutional Investors
Liquidity Options
Monthly subscriptions
Highlights
Key Information Document (KID) – EU Funds
KID Risk Indicator
6 out of 7
Annual Returns (KID Scenarios)
Stressed
-2.1%
Moderate
9.18%
Favorable
9.71%
Average Total Cost Level (KID)
5%
Allocations
Geographic Focus
Investment Strategy
Industry Focus
Historical Performance
Performance Summary
Class RD USD (Distributing) — Performance from 2024-05-01 to 2026-07-31
NAV: 25.11
Performance Comparison
MTD
0.84%
Year to Date
3.29%
1-Year Return
7.75%
Annualized Since Inception
10.26%
Monthly Total Returns
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.63% | 0.16% | -0.28% | 0.87% | 0.52% | 0.52% | 0.84% | — | — | — | — | — | 3.29% |
| 2025 | 1.10% | 0.82% | 1.10% | 0.63% | 1.10% | 0.78% | 0.98% | 0.94% | 0.97% | 0.82% | 0.86% | 0.66% | 11.28% |
| 2024 | — | — | — | — | 1.40% | 1.11% | 1.06% | 0.63% | 1.14% | 0.86% | 0.90% | 0.98% | 8.38% |
Class RA USD (Accumulating) — Performance from 2024-10-01 to 2026-07-31
NAV: 29.53
Performance Comparison
MTD
0.82%
Year to Date
3.29%
1-Year Return
7.77%
Annualized Since Inception
9.53%
Monthly Total Returns
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.59% | 0.18% | -0.28% | 0.87% | 0.52% | 0.55% | 0.82% | — | — | — | — | — | 3.29% |
| 2025 | 1.09% | 0.81% | 1.15% | 0.64% | 1.05% | 0.74% | 1.00% | 0.95% | 0.98% | 0.82% | 0.85% | 0.67% | 11.29% |
| 2024 | — | — | — | — | — | — | — | — | — | 0.88% | 0.91% | 0.94% | 2.76% |
Class ND USD (Distributing, 0.85% servicing fee) — Performance from 2024-08-01 to 2026-07-31
NAV: 24.58
Performance Comparison
MTD
0.73%
Year to Date
2.74%
1-Year Return
6.87%
Annualized Since Inception
8.77%
Monthly Total Returns
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.52% | 0.12% | -0.36% | 0.81% | 0.41% | 0.49% | 0.73% | — | — | — | — | — | 2.74% |
| 2025 | 1.00% | 0.72% | 1.08% | 0.56% | 1.00% | 0.72% | 0.88% | 0.88% | 0.96% | 0.68% | 0.84% | 0.60% | 10.37% |
| 2024 | — | — | — | — | — | — | — | 0.68% | 1.00% | 0.80% | 0.84% | 0.92% | 4.32% |
Class NA USD (Accumulating, 0.85% servicing fee) — Performance from 2024-08-01 to 2026-07-31
NAV: 29.58
Performance Comparison
MTD
0.75%
Year to Date
2.78%
1-Year Return
6.90%
Annualized Since Inception
8.79%
Monthly Total Returns
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.56% | 0.10% | -0.38% | 0.83% | 0.41% | 0.48% | 0.75% | — | — | — | — | — | 2.78% |
| 2025 | 1.00% | 0.76% | 1.06% | 0.56% | 1.00% | 0.70% | 0.87% | 0.90% | 0.90% | 0.75% | 0.85% | 0.56% | 10.35% |
| 2024 | — | — | — | — | — | — | — | 0.68% | 1.03% | 0.79% | 0.82% | 0.93% | 4.32% |
Information about fund
KIT at a Glance
KKR Income Trust I is KKR's evergreen private credit fund for professional and well-informed investors outside the US. It sits in a Luxembourg SICAV-RAIF and lends mainly through senior secured direct loans in the US and Europe, plus asset-based finance, with 40-60% of assets targeted at KKR's US business development company K-FIT. At 31 July 2026 it had a net asset value of USD 1.37 billion across 244 issuers. Class RD USD returned 11.28% net in 2025 and 10.26% a year since May 2024, helped by fee waivers until September 2025. It is not an ELTIF and is not marketed to retail investors in the Netherlands.
Key Figures
Net Asset Value
USD 1.37B
31 July 2026; investments at fair value USD 2.29B
Return Since Launch
10.26% p.a.
Class RD USD, net, May 2024 to July 2026; last 12 months 7.75%
Return 2025
11.28%
Class RD USD, net; partly fee-waived
Minimum
USD 100,000
Professional and well-informed investors only
Risk Indicator
6 / 7
KID 28 Aug 2025; recommended holding period 7 years
First-Lien Share
98%
Of direct loans; median loan-to-value 38%
Terms & Liquidity
| Legal Structure | Sub-fund of KKR-Income Trust SCA SICAV-RAIF (Luxembourg, RCS B271883); no CSSF product supervision; indefinite term |
| Manager | AIFM KKR Alternative Investment Management Unlimited Company (Central Bank of Ireland); investment manager KKR Credit Advisors (Ireland); depositary BNY Mellon SA/NV, Luxembourg Branch; auditor Deloitte |
| Share Classes / ISIN | RD USD LU2729850144, RA USD LU2729850060, ND USD LU2775706455, NA USD LU2775706372; also AUD and SGD classes |
| Fees | Management fee 1.25% of NAV; 12.5% of net investment income over a 5% hurdle with catch-up; 12.5% of net realised gains; Class N servicing fee 0.85% |
| Ongoing Costs | 2.43% a year (Class RD KID, 28 Aug 2025); total cost impact 5.0% a year over 7 years |
| Subscriptions | Monthly at prior month-end NAV; orders six business days in advance |
| Redemptions | Quarterly, generally capped at 5% of NAV; notice two business days before the end of the prior month; settlement within about 28 business days |
| Early Redemption | Up to 2% deduction on shares held less than 12 months |
| Leverage and SFDR | Leverage ratio capped at 90% of total assets; target 0.9-1.1x debt to equity; SFDR Article 6 |
| Distributions | Monthly on distributing classes; Class RD annualised rate 9.08% (July 2026) |
Portfolio Management
Daniel Pietrzak
Partner, Global Head of Private Credit
Michael Small
Partner
Varun Khanna
Partner
Ian Anderson
Managing Director
Ryan L.G. Wilson
Managing Director
Points to weigh. Access is restricted: the fund is a RAIF for professional and well-informed investors with a USD 100,000 minimum, and no Dutch retail notification or Dutch KID was found. The KID rates it 6 out of 7 for risk, reflecting targeted leverage of 0.9 to 1.1 times equity on top of private loans to mid-market companies and asset-backed pools. The strong 2024-2025 returns were helped by fee waivers; the trailing twelve-month return of 7.75% to July 2026 is lower, and March 2026 was negative. Costs are significant, with 2.43% ongoing charges plus incentive fees and a 5.0% a year total cost impact in the KID. Liquidity is limited to 5% of NAV per quarter and can be suspended. The portfolio is in US dollars, so euro investors carry currency risk.
Deepdive & Related Funds
Other KKR (Kohlberg Kravis Roberts & Co.) Funds
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KKR Private Markets Equity Fund SICAV SA (K-PRIME)
K-PRIME is an open-ended fund providing individual investors access to KKR's industry-leading private equity platform. The fund offers exposure to all current and future KKR-managed PE strategies including buyout, growth, middle market, core, and global impact investments.
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