KKR in Talks With Private Credit Funds to Finance Perpetual Bid

KKR & Co. has held talks with a number of private credit funds for a debt package of at least A$800 million ($525 million) to support its bid for Perpetual Ltd.’s corporate trust and wealth management units, according to people familiar with the matter.

The discussions with Blackstone Inc. among others have focused on possible funding channels including a private-credit loan, the people said, asking not to be identified as the discussions are private. The private equity firm plans to raise separate financing for each of the businesses, one of the people said.

Both KKR and Blackstone declined to ...