Connect with us

Hi, what are you looking for?

Stock

KKR raises $15 billion in Asia’s biggest fund as buyout-backed deals rise

Stock Markets52 minutes ago (Apr 05, 2021 11:20PM ET)

(C) Reuters. Trading information for KKR & Co is displayed on a screen on the floor of the NYSE in New York

SINGAPORE (Reuters) – Private equity powerhouse KKR & Co (NYSE:KKR) said on Tuesday it has raised $15 billion for its fourth Asia-Pacific focused fund, marking the region’s biggest private equity fund at a time when buyout-backed deals are on the rise.

U.S.-based KKR started marketing the new Asia fund towards the end of 2019, initially targeting $12.5 billion, sources familiar with the situation have said previously.”Companies across Asia Pacific are recognising their potential to become not only national and regional champions but also global leaders in their industries,” Ashish Shastry, KKR’s co-head of Asia Pacific private equity, said in a statement announced the fund-raising.

KKR said the fund exceeded its target size to reach its hard cap for fund investors’ commitments and received strong support from new and existing global investors, including significant representation from Asia Pacific-based investors.

Coronavirus-spurred growth in the technology sector is expected to drive M&A activity in Asia this year. Private equity-backed deals in the region rose 51% to a record $129 billion last year.

Many regional funds including China’s Primavera Capital and Boyu Capital are also raising funds, while Hillhouse Capital is targeting raising $13 billion, sources have said.

KKR said its fund would tap into opportunities stemming from rising consumer spending and urbanisation trends, as well as corporate carve-outs, spin-offs and consolidation.

KKR will invest about $1.3 billion in capital alongside fund investors through the firm and its employees’ commitments.

In January, it said it had closed its first fund targeting real estate investments in Asia Pacific, days after it closed its inaugural Asia infrastructure fund.

KKR raises $15 billion in Asia’s biggest fund as buyout-backed deals rise

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.

Uncategorized

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.

Uncategorized

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.

Uncategorized

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores.

Disclaimer: Buzzclever.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved