Kohlberg Kravis Roberts (KKR), the U.S. private equity giant, announced that they were able raise a US$6 billion Asia-Pacific fund. The fund raised is the biggest fund dedicated to the region to date.
K.K.R. met its goal for its second major Asia-wide fund even as global buyout firms were faced with economic challenges from slumping markets and with the emerging local competitors in China.
On a global scale, private equity companies were able to raise US$122 billion in new funds in the second quarter of the year amidst the financial crisis.
In the Asian market, the biggest private equity fund raising was that of RRJ Capital, which had closed a $3.5 billion Asia fund in the first quarter of the year.
K.K.R. opened its first Asia office in Hong Kong in 2005, raising a $4 billion regional fund in 2007 and a $1 billion China fund in 2010. The company opened a Singapore office last year to focus on Southeast Asia deals, and today employs more than 100 executives in seven offices across Asia.
K.K.R. has invested more than $5.5 billion in 30 companies all around Asia.
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