KKR last year started two debt funds for individual investors. The Alternative High Yield Fund (KHYKX), which became available in November, is an open-end fund with a $2,500 minimum investment and the option to withdraw money daily. The Alternative Corporate Opportunities Fund (XKCPX) is an unlisted closed- end fund with a minimum investment of $25,000 and quarterly liquidity. The funds, which will invest in assets such as high- yield bonds and bank loans, are the first pools managed by KKR that are structured like mutual funds. The firm, founded in 1976 by Jerome Kohlberg and cousins Henry Kravis and George Roberts, is close to being able to add the high-yield fund to its own 401(k) plan through Fidelity, according to a person familiar with KKR's plans. KKR views that as a step toward offering the investments to other Fidelity 401(k)-plan participants, said the person, who asked not to be identified because the information isn't public.