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Laxman Pai, Opalesque Asia: NYC-based global investment firm KKR has raised $15 billion for its fourth Asia fund, making it the largest private equity fund in the Asia-Pacific region.
The vehicle is more than 60% larger than its immediate $9.3 billion predecessor (Asian Fund III), which was raised in 2017, and brings KKR's total assets under management in Asia to over $30 billion.
The new vehicle has also beaten Hong Kong-based Hillhouse Capital's US$10.6 billion fundraise in 2018 - previously the largest fund focused on Asia.
According to a press release from the alternative asset manager, the new fund will target "emerging consumption and urbanization trends" as well as carve-outs and spinoffs.
KKR will be investing approximately US$1.3 billion in capital alongside fund investors through the Firm and its employees' commitments.
"Over the last 16 years we have strategically built our Asia Pacific platform and diverse regional team to unlock what we believe are some of the most compelling investment opportunities in the world given Asia Pacific's growth and dynamism," said Ming Lu, Head of KKR Asia Pacific.
"Our new flagship private equity fund meaningfully adds to our multi-asset platform and strengthens our investment position across the region. We are grateful to our investors who have acknowledged the success of our Asia Pacific strategy and share our conviction in the tremendous potential that the region's businesses hold," Ming...................... To view our full article Click here
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