KKR obtains US$6 billion in new Asia fund, records region's biggest

By IVCPOST Staff Reporter

Jul 10, 2013 07:54 AM EDT

KKR & Co's third Asia private equity fund obtained US$6 billion. Having the biggest fund in the region would equip the corporation with its new targets. KKR & Co hoped it would make a difference during a time of chances and challenges for foreign capitalists.

KKR stated that around US$1.5 billion was raised from its Asian investors. This was 26% of the fund. The company was also able to raise US$908 million from latest investors who did not join KKR's initial Asia fund.

KKR added that the Asian II Fund followed the US$4 billion Asia fund it raised in 2007. The China Growth Fund in 2010 that raised US$1 billion was also on the list. Since 2005, the New York-based company invested more than US$5 billion in Asia.

The effort of KKR to raise US$6 billion funds was rewarded because venture capitalists eyed plunging valuations in the region's decelerating economies. However, the unstable and strong barriers also caused difficulties to Asia's private equity industry.

KKR was vying against foremost firms in Asia for investor's money. Affinity Equity Partners, Carlyle Group and TPG Capital were just some of the firms that were also trying to raise money.

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