Global private equity major KKR has picked up a stake in HDFC Mutual Fund (MF), the country’s leading asset management company (AMC), ahead of its much-awaited initial public offering (IPO). According to sources, KKR has acquired 1.44 million shares worth over Rs 1.5 billion from a clutch of distributors and financial advisers who were made pre-IPO placement by the fund house in April.