KKR raises $15B for largest Asia dedicated fund

April 06, 2021

KKR has raised $15 billion for KKR Asian Fund IV, the largest private equity fund raised to date for the Asia Pacific region. KKR will be investing approximately $1.3 billion alongside fund investors through the Firm and employees’ commitments. The Fund, which smashed its target to reach its hard cap, received strong support from a diverse group of new and existing global investors, including strong representation by Asia Pacific-based investors.

The highly anticipated fund close follows KKR’s inaugural pan-regional infrastructure and real estate funds which raised $3.9 billion and $1.7 billion respectively. The latest fund close compares to $9.3 billion raised for Fund III, and tops Hillhouse’s $13 billion latest fund target, and $10.6 billion raised in 2018 for Fund IV.

Singapore-based Ashish Shastry, Co-Head of Asia Pacific Private Equity at KKR said in a statement, “Today, with Asian Fund IV and KKR’s local-global partnership approach, we are better positioned than ever to support the expansion of the companies that fuel Asia Pacific’s economy, fund their innovation, and build technology leaders.”

The latest fund will pursue opportunities stemming from rising consumption and urbanization trends, as well as corporate carve-outs, spin-offs, and consolidation as companies look to optimize their portfolios, KKR said in the statement.

KKR’s team in Asia comprises approximately 70 investment professionals in eight offices across six major markets. KKR launched its Asia platform in 2005, and today has over $30 billion in assets under management in the region across strategies, including private equity, infrastructure, real estate and credit.