© Reuters. Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo
SINGAPORE (Reuters) – U.S. private equity firm KKR has raised $1.1 billion in its inaugural Asia credit fund that provides debt financing to companies.
KKR said in a statement on Wednesday the Asia Credit Opportunities Fund, which saw its final close, is one of the largest inaugural pan-regional credit funds raised for Asia Pacific.
Ming Lu, KKR’s Asia Pacific head, said Asia was benefiting from favourable macroeconomic trends and long-term growth but financing options available to companies looking to keep pace with this rapid growth were 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,” Lu said in the statement.
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