KKR closes fourth Asia buyout fund at record $15b
REUTERS/Brendan McDermid
April 6, 2021
Private equity giant KKR & Co announced that it had closed its fourth Asia-focused buyout fund at $15 billion, the largest PE fund dedicated to investing in the Asia Pacific region.
KKR Asian Fund IV exceeded its $12.5-billion target and also surpassed the record $10.6 billion raised by Hillhouse Capital Group for Asia in 2018. KKR said it will be investing approximately $1.3 billion in capital alongside fund investors through the firm and its employees’ commitments.
The fund received strong support from a diverse group of new and existing global investors, including strong representation by Asia Pacific-based investors.
KKR closes $15 billion fund targeting consumption and urbanization in Asia
KKR has just closed $15 billion for its Asia-focused private equity fund, exceeding its original target size after receiving “strong support” from new and existing global investors, including those in the Asia Pacific region.
The new close came nearly four years after KKR raised its Asian Fund III of $9.3 billion and marks the New York-based alternative asset management titan’s ongoing interest in Asia. It also makes KKR Asian Fund IV one of the largest private equity funds dedicated to the Asia Pacific region.
KKR itself will inject about $1.3 billion into Fund IV alongside investors through the firm and its employees’ commitments. The new fund will be on the lookout for opportunities in consumption and urbanization trends, as well as corporate carve-outs, spin-offs and consolidation.
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KKR invested in this Incheon logistics facility under its Asia Real Estate Partners strategy
Around two years after kicking off its first dedicated vehicle for investing in Asian real estate, US private equity firm KKR has exceeded its original goals for the opportunistic venture.
The New York-based fund manager has completed fund raising for KKR Asia Real Estate Partners (AREP) after having received $1.7 billion in commitments for the fund, according to an announcement today. By mid-2020, the strategy had reached a first close of $698 million on its way to what was then a $1.5 billion target.
“AREP’s close marks the next chapter of growth for KKR in Asia Pacific as we continue to expand our position as a proven alternative capital provider across asset classes,” KKR’s head of Asia Pacific, Ming Lu, said in a statement.