KKR raises $1.1bn for first Asia credit fund

Fund raisingAlternative asset manager KKR has secured US$1.1 billion in capital commitments for its inaugural Asia credit fund. The final close of the KKR Asia Credit Opportunities Fund was described by Ming Lu, head of KKR Asia Pacific, as a “significant milestone” for the firm’s Asian business. “Asia continues to benefit from favourable macroeconomic trends and long-term growth,” said Lu. “However, the number of financing options available to companies looking to keep pace with this rapid growth has remained limited. “We believe these dynamics provide an attractive landscape for alternative asset managers like KKR who are able to provide more flexible and differentiated credit solutions than traditional lenders.” The fund will focus primarily on performing privately originated credit, and target opportunities across three broad investment themes - senior and unitranche corporate lending, subordinated corporate lending, and asset-based finance investments. “There is an imbalance of available financing for Asian businesses at a time when the region’s growth and prosperity have fuelled an enormous demand for more flexible funding solutions by borrowers looking to seize the opportunities,” says Brian Dillard, head of Asia credit at KKR. “With limited non-bank supply, we believe this market presents compelling opportunities for alternative credit providers like KKR.” © 2022 funds global asia

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