KKR & Co is aiming to wrap up its second Asia-focussed private credit fund in December, with a target size of around $2bn, according to a report by Bloomberg citing people familiar with the matter.
The vehicle, Asia Credit Opportunities Fund II, launched its raise in January 2024 and is geared towards performing credit strategies in the region, seeking returns in the low-to-mid teens, the sources say.
The move underscores KKR’s intent to deepen its credit platform in Asia-Pacific, where private credit remains an under-penetrated segment relative to the US and Europe. The Asia Pacific market is forecast to grow from $59bn last year to $92bn in 2027.
KKR’s first Asia Pacific private credit fund raised $1.1bn in 2022.
