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KKR seals $1.1bn for first Asia-Pacific credit fund

Wednesday, May 25, 2022

Laxman Pai, Opalesque Asia:

The global investment firm KKR & Co. raised $1.1 billion for its first credit fund focused on investments in the Asia-Pacific region, betting volatility will spark opportunities and deliver returns as high as in the mid-teens.

The new fund, called KKR Asia Credit Opportunities Fund (ACOF), received financing from new and existing investors, including public and corporate pensions, sovereign wealth funds, commercial banks, insurance companies, asset managers and private investment groups, and family offices, said a press release from the New York-listed investment firm, which globally manages $184 billion in credits.

KKR invested over US$100 million alongside external investors through its balance sheet and employee commitments.

"Our credit strategy is complementary to our existing equity strategies in Asia, and the close of ACOF represents a significant milestone for KKR in the Asia Pacific as we continue to build out our suite of investment capabilities and capital solutions across asset classes," said Ming Lu, Head of KKR Asia Pacific. "Asia continues to benefit from favorable macroeconomic trends and long-term growth. However, the number of financing options available to companies looking to keep pace with this rapid growth has remained limited."

According to the press release, ACOF intends to pursue investments primarily in performing privately originated credit, and broadly target opportunities across three primary investing th......................

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