KKR to deploy significant part of new Asian fund in Japan


japan people_sqBuyout major KKR plans to deploy a significant part of its recently closed $6bn Asian fund in Japan.

Chief executive of KKR Japan Hirofumi Hirano said that KKR will target Japanese companies whose bonds have been rated as junk, according to Reuters.

He added that the firm will restructure and provide equity to companies that have the potential to recover. KKR will focus on mid-market companies based both in and outside of Tokyo, which Hirano said were the most popular buyout targets in the country.

Earlier this week KKR closed the fund on $6bn, making it the biggest Asia-focused vehicle ever raised.

AltAssets reported in April that the fund had broken the $5bn mark thanks to 106 LPs as well as a $250m commitment from the general partner.

The fund follows KKR’s $4.5bn first Asian vehicle closed in 2007

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