Global investment firm KKR said on Thursday that it has completed a $2.5 billion fundraising for its second credit fund focused on privately originated performing credit investments in the Asia-Pacific region. The fund follows KKR’s inaugural Asia Pacific–dedicated private credit vehicle, which closed at $1.1 billion in 2022.
Private equity activity has gathered pace in Asia as warming capital markets allow exits via initial public offerings, while assets in markets such as Japan and India have become more attractive to investors. Funds secured include $1.8 billion in KKR’s Asia Credit Opportunities Fund II and $700 million raised from separately managed accounts focused on the same types of investment opportunities, making it the largest pan-regional fund aimed at performing credit, KKR said. In November, Reuters reported that New York-headquartered KKR is seeking $15 billion of investments in its fifth Asian private equity fund, in what would be among the region’s biggest such fundraising. In its statement on Thursday, KKR added that it has closed more than 60 investments in the Asia-Pacific region through its Asia Credit strategy since 2019, representing about $8.3 billion of capital invested by the firm and a total transaction value of $27.5 billion.
