KKR Closes New $1.1 Billion Asia Credit Fund

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By Yifan Wang

KKR & Co. said on Wednesday that it had closed a new credit fund focused on the Asian market, as the New York-listed investment firm continues to grow in the region, where economic growth has been particularly resilient since the pandemic began. .

The new fund, called the KKR Asia Credit Opportunities Fund, received funding from new and existing investors, including public and corporate pensions, sovereign wealth funds, commercial banks, insurance companies, asset managers and private investment groups and offices. relatives, KKR said in a statement.

KKR itself also invested more than $ 100 million in the fund through its balance sheet and employee commitments.

The fund intends to pursue investments primarily in privately sourced loans, KKR said. In particular, the fund will broadly target opportunities on three investment topics: senior and unitranche corporate lending, subordinated corporate lending, and asset-based financial investments.

The recently closed fund marks another move by KKR to increase its presence in Asia Pacific in recent years. In 2021, the company closed a $ 15 billion Asian private equity fund and a $ 3.9 billion Asian infrastructure fund, among others.

The new credit fund will offer Asian companies non-bank financing options, KKR said.

“There is a funding imbalance available for Asian companies at a time when the region ‘s growth and prosperity have fueled a huge demand for more flexible financing solutions from borrowers looking to seize opportunities. limited non-bank supply, we believe this market presents attractive opportunities for alternative credit providers such as KKR, ”said Brian Dillard, Head of Asia Credit at KKR.

Write to Yifan Wang at yifan.wang@wsj.com

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