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Kohlberg Kravis Roberts & Co

KKR raises over $3B for second Asia fund

25 June, 2012

Private equity major Kohlberg Kravis Roberts & Co (KKR) has raised over $3 billion in commitment for its second Asia fund, according to a filing with US regulator Securities Exchange Commission (SEC). The fund is targeting $6 billion, which could be largest pool targeting the Asian private equity market.

KKR Asian Fund II L.P., which has been incorporated in Cayman Islands, has raised $2.763 billion from investors across the world. Another $250 million has been committed to the fund by its general partner, taking the total to over the $3 billion. According to the filing, the KKR Asian Fund II is looking to raise $5.75 billion (which does not include GP commitment).

The $2.763 billion has been raised from 37 investors, which would bring the average commitment size to around $75 million. Some of the large investors in the fund, according to earlier statements, include Washington State Investment Board with $400 million and Oregon Investment Council with $225 million commitments.

KKR’s first Asia fund raised $4 billion in 2007, which also saw investments from Washington State Investment Board and Oregon Investment Council. According to Oregon Public Employees Retirement Fund, KKR Asian Fund had a total value multiple of 1.41x and IRR of 13.8 per cent as of March 31.

KKR is also building up a team based out of Singapore to invest in Southeast Asian market, where according to one report, it may invest up to $1 billion from the new fund. KKR’s peers like TPG Capital and Bain Capital are also currently raising new Asia funds.

KKR has been fairly active investor in India since setting up operations in 2009 across private equity and NBFC segments in India. KKR Asia Fund will invest in sectors like consumer, manufacturing, healthcare and infrastructure in China, India and other regions of Asia.

KKR India has 15 investment professionals based in Mumbai, focusing both on private equity and non-banking financial services. With over $1 billion invested in India, KKR has a portfolio of majority and minority stakes in companies including Aricent, Cafe Coffee Day, Dalmia Cement, Bharti Infratel, Magma Fincorp, apart from its most recent investment in TVS Logistics.

(Edited by Prem Udayabhanu)


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KKR raises over $3B for second Asia fund

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