May. 11 at 3:40 PM
The latest
$FSK report is a massive reality check. Behind the record market highs, this KKR fund just posted a staggering
$560M loss, with EPS hitting -
$1.57. Seeing NAV plunge from
$20.89 to
$18.83 in a single quarter is a huge red flag. With non-accruals spiking to 4.2%, defaults are no longer a theoretical risk—they are here. Even with KKR's
$150M emergency support, the 131% leverage and broken technicals suggest more pain ahead. As redemption gates spread across the industry, the cracks in the credit market are becoming impossible to ignore.
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