By Yifan Wang
KKR & Co on Wednesday said it has closed a new credit fund focused on the Asia market, as the New York-listed investment firm continues to grow in a region where economic growth has been particularly resilient since the pandemic began. has been proved.
The new fund, named KKR Asia Credit Opportunities Fund, 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, KKR said in a statement. Statement.
KKR also invested over $100 million in the fund through its balance sheet and employee commitments.
KKR said the fund intends to invest primarily in performing, privately generated credit. Specifically, the fund will target opportunities broadly across three investment disciplines: senior and entity corporate lending, subordinated corporate debt and asset-based finance investments.
The newly closed fund is another step by KKR to increase its presence in Asia Pacific over the years. In 2021, the company closed the $15 billion Asia Private Equity Fund and the $3.9 billion Asia Infrastructure Fund.
KKR said the new credit fund will provide non-bank financing options to Asian businesses.
“There is an imbalance of financing available to Asian businesses at a time when the growth and prosperity of the region has fueled a huge demand for more flexible financing solutions by borrowers looking to seize opportunities. With limited non-bank supplies, We believe this market presents an attractive opportunity for alternative credit providers such as KKR,” said Brian Dillard, Head of Asia Credit at KKR.
Write to Yifan Wang at [email protected]
Credit: www.marketwatch.com /