Investment firm KKR announced the final closing of its KKR Asian Fund III a $9.3 billion fund focused on investments in private equity transactions across the Asia Pacific region.
The latest fund surpasses KKR’s US$6 billion Asian Fund II to become the largest private equity fund dedicated to investing in the region, according to date and intelligence firm Preqin.
In a press release KKR said it received strong backing from a diverse group of new and existing global investors.
The breakdown of investors include public and corporate pensions, sovereign wealth funds, insurance companies, endowments, family offices and high net worth individual investors.
«We see a diverse set of opportunities across Asia Pacific stemming from rising consumption and urbanisation trends in key markets as well as larger carve-out and cross-border transactions in countries such as Japan,» said Ming Lu, KKR Member and Head of Asia Private Equity.
Generational Change
With the closing of this fund, KKR's private equity business manages over $68 billion in assets under management worldwide (using valuations for existing funds as of March 31, 2017).
«Many Southeast Asian companies are starting to realise their inherent growth potential, driven by demographic, consumption and technology trends.
Some of the region's most distinguished families are charting an ambitious course to embrace generational change, selectively bring in professional management, and expand into new areas» added Ashish Shastry, Member & Head of KKR Southeast Asia.
