What a sign of the times. KKR, the venerable private equity house, is to target the hoi polloi with two new funds covering high-yield credit and distressed opportunities. Now anyone with as little as $2,500 (U.S.) can invest in a KKR fund. It is a far cry from the height of the private equity boom when only those with the biggest cheque books could get a piece of the action. KKR’s fee income dropped 22 per cent in the first nine months of the year. Managing money for the man in the street offers more reliable earnings.