July 9, 2013 - Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”) today announced the closing of its Asian II Fund at US$6 billion, making it the largest-ever pan-Asian private equity fund.
The Asian II Fund marks the firm’s third successful fund raising in the region, following its US$4 billion regional fund in 2007 and its US$1 billion China Growth Fund in 2010.
Having first established its presence in Asia Pacific in 2005, KKR has invested over US$5.5 billion in private equity investments in 30 companies across the region. In Asia, KKR has more than 100 executives and senior advisors in seven offices, located in Beijing, Hong Kong, Mumbai, Seoul, Singapore, Sydney and Tokyo.
Joseph Bae, Member & Managing Partner of KKR Asia said, “The successful close of our second Asian fund is a testament to our strong track record in the region. We look forward to continuing to generate positive results for all our stakeholders. Having invested more than US$5.5 billion in Asia since 2005, we have demonstrated to investors our commitment to the region, as well as the effectiveness of our successful global-local and partnership approach.”
KKR’s partnership approach enables Asian companies to tap into KKR’s global best practices to expand their businesses and improve operations to grow in their own markets and expand internationally.
For its Asian II Fund, KKR sees opportunities in Asia arising from an increase in domestic consumption, and KKR focuses on local industries that can take advantage of this trend such as consumer, retail, healthcare, education and certain industrials. KKR also sees opportunities in: the rapid development of the financial services industry; the increasing demand for better and improved infrastructure; availability from non-core carve-outs and corporate divestitures as well as divestments from state-owned enterprises; the increasing global demand for specialized technology & precision manufacturing, which is present in selected Asian markets; and, increasing growth and generational-change opportunities with entrepreneurs.
KKR’s private equity portfolio is diversified by country, industry and sector, and it includes both traditional control transactions as well as growth equity stakes in companies. KKR focuses on long-term business fundamentals, looking for companies that are market leaders in their sectors and that would benefit from partnering with KKR for greater growth.
KKR’s Asian portfolio companies employ nearly 100,000 people, and, when combined with its global portfolio companies, KKR’s overall portfolio companies employ in Asia more than 150,000 people. In Asia, every company in which KKR has invested for more than two years has experienced employment growth. KKR is a long term investor, holding its private equity investments an average of five to seven years.
Steven Okun, Director -- Public Affairs, KKR Asia Pacific
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