Private equity major Kohlberg Kravis Roberts & Co. (KKR & Co. L.P.) is looking to raise up to $6 billion for its second Asian buyout fund, according to Bloomberg and Reuters reports. KKR is expected to start fundraising for the vehicle in the first two quarters of 2012.
KKR currently invests in Asia from its $4 billion fund, which it had raised in 2007 as one of the large pools of capital to invest in the region. The PE firm also operates a $1 billion China growth fund. KKR’s plans come as other PE giants like Bain Capital and TPG Capital are also looking to raise Asia funds.
KKR has been a fairly active investor in India since it set up shop in the country in 2009. The firm has been investing in private equity deals besides dabbling in debt through its non-banking financial company.
In 2010, KKR took equity stakes in the demerged cement unit of Dalmia Cement (Bharat) Ltd and invested $200 million with a consortium in Coffee Day Holdings. Its most recent deals included stake purchase in Kolkata-based non-banking finance company Magma Fincorp and IPO-bound Avantha Power.
KKR Bets On China Slowdown With HK Expansion