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KKR raises $6bn for second pan-Asia fund

17 Dec 2012

Global buyout giant KKR has reportedly finished raising its second Asia-focused fund, ending an oversubscribed fundraising process that has raised $6bn for the US firm.

Reuters reported the news over the weekend, citing unnamed sources.

The formal close of the fund – the largest private equity fund ever raised for the region – is expected to be announced early next year, the report added.

The news follows KKR’s recent opening of an office in Singapore, representing the firm’s seventh office in Asia and better positioning it for deals in the region.

The Singapore office will serve as KKR’s regional hub for Southeast Asia and will be dedicated towards its investment activities throughout the region.

The US-based firm’s Southeast Asia team is led by Ming Lu, member and regional leader of Southeast Asia, and includes directors Kabir Mathur, a former TPG Capital dealmaker, and Ridha Wirakusumah, formerly president and CEO of Bank Internasional Indonesia.

David Tan, a principal who played a key role in KKR’s previous Southeast Asia investments in Masan Consumer Corp and Unisteel, is also part of the team.

KKR has invested more than $1bn in four deals in Southeast Asia, comprising Avago, MMI and Unisteel, all based in Singapore, and a $159m investment in Masan Consumer, the largest-ever private equity deal in Vietnam.

Singapore-listed water treatment and recycling company United Envirotech, based in China, is also a KKR portfolio company.

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