KKR Asset-Based Income Fund Extends Fee Cap, Removes Early Repurchase Fee

What Happened
KKR Asset-Based Income Fund (the “Fund”) filed an 8-K reporting that its adviser, KKR Credit Advisors (US) LLC, agreed to extend a temporary reduction of the Fund’s Management Fee and that the Fund has eliminated its early repurchase fee. The Adviser’s standard Management Fee is 0.50% of month‑end net assets; it has been temporarily reduced to 0.35%. Effective August 31, 2026, the Adviser extended that reduced fee through the later of May 3, 2031 or until the Fund’s aggregate net assets reach $3.0 billion. The Fund also removed the prior 5% early repurchase fee in connection with its conversion from a tender‑offer fund to an interval fund.

Key Details

• Adviser: KKR Credit Advisors (US) LLC; standard Management Fee = 0.50% of month‑end net assets.
• Temporary fee reduction: reduced to 0.35% annually, extended effective August 31, 2026 through the later of May 3, 2031 or when assets ≥ $3.0 billion (previous cap was $1.0 billion).
• Early repurchase fee: the 5% fee applied to shares repurchased before the day immediately preceding the one‑year anniversary of purchase has been eliminated.
• Filing date: Form 8‑K filed October 1, 2026.

Why It Matters
For shareholders, the extended management fee reduction lowers the Fund’s ongoing advisory expense rate while the reduction is in effect, potentially improving net returns or reducing drag on NAV compared with the prior 0.50% rate. Eliminating the 5% early repurchase fee removes a financial penalty on redemptions made within the first year, increasing flexibility for investors after the Fund’s conversion to an interval fund. These are operational changes that affect fees and investor liquidity terms as disclosed in the 8‑K.