Irish state pension fund teams up with KKR

Ireland Strategic Investment Fund (ISIF) and KKR Credit have joined forces to establish a €500m lending vehicle that will finance house-building schemes in Ireland, the firms said in a joint statement. ISIF backed Activate Capital with €325m, while KKR Credit invested the remaining €175m. ISIF was established in June 2013 to replace the National Pension Reserve Fund and the new joint venture is its largest investment to date.