KKR & Co Inc (NYSE:KKR) reportedly inked a deal with Japanese financial group SBI Holdings to create a joint venture for offering investment trusts to retail investors in Japan. 

The move aims to tap into Japan's large pool of personal financial assets, estimated at around two quadrillion yen ($13 trillion), reported Nikkei.

The report noted KKR and SBI will create and sell investment trusts in the Japanese market based on funds that KKR sells to wealthy individuals overseas, with SBI having the majority stake in the company and the partners' stakes to be determined.

The first fund, likely a private debt fund that will make loans to companies and purchase bonds, is projected to be launched by the end of October next year. 

The minimum investment will be as low as 3 million to 5 million yen and authorize investors to cash in quarterly or monthly after purchase.

KKR plans to expand its partnerships beyond SBI to foster the market for individual investors.

Following the transaction's closing, KKR will be USI's largest single shareholder.

Price Action: KKR shares are trading lower by 6.40% at $58.80 premarket on the last check Monday.