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KKR closes USD9.3bn Asian Fund III

KKR has held the final closing of KKR Asian Fund III, a USD9.3 billion fund focused on investments in private equity transactions across the Asia Pacific region.

“The Asia market offers many compelling investment opportunities in private equity given its secular growth and attractive valuations,” says Joseph Bae, KKR Member and Managing Partner of KKR Asia. “This flagship fund is a testament to KKR’s ability to drive meaningful growth and value creation in our investee companies as a partner of choice to leading Asian businesses, families and management teams.”

Ming Lu, KKR Member and Head of Asia Private Equity, adds: “We see a diverse set of opportunities across Asia Pacific stemming from rising consumption and urbanisation trends in key markets as well as larger carve-out and cross-border transactions in countries such as Japan. We look forward to partnering with companies to provide unique value-add capabilities beyond capital investment alone which generate positive results for our stakeholders.”

The fund surpasses KKR’s USUSD6 billion Asian Fund II to become the largest private equity fund dedicated to investing in the region, according to Preqin. It received strong backing from a diverse group of new and existing global investors, including public and corporate pensions, sovereign wealth funds, insurance companies, endowments, family offices and high net worth individual investors.

“The Firm, along with KKR employees, committed approximately USD800 million, marking it our second-largest commitment to a KKR fund. This highlights our focus on the alignment of KKR’s interests alongside our fund investors, coupled with the excitement for the investment opportunities we are seeing across the region,” added Alisa Wood, KKR Member and Head of Private Market Products Group.


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