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Exclusive: KKR targets record $15 billion for new Asia-focused fund - sources

Exclusive: KKR targets record $15 billion for new Asia-focused fund - sources
FILE PHOTO: The KKR & Co name 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 -
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Brendan McDermid(Reuters)
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HONGKONG (Reuters) – Global private equity group KKR & Co Inc <KKR.N> is targeting a record $15 billion (£11.7 billion) for its new Asia-focused buyout fund, three sources with knowledge of the fundraising plan told Reuters.

A fund of that size would break the New York-based private equity firm’s own 2017 record of a $9.3 billion fund and comes as buyout groups are increasingly focusing on Asian investments.

The fundraising will start in the first quarter of 2020, with the aim of achieving first close, an important milestone indicating the fund has crossed a minimum threshold and can begin making investments, by June, the people said on Thursday.

The fundraising target and timeline for KKR’s planned Asia-focused fund have not previously been reported.

KKR could not immediately be reached for comment. The people declined to be named as the fundraising plan is not public yet.

(Reporting by Sumeet Chatterjee, Anshuman Daga and Scott Murdoch; Additional reporting by Julie Zhu; Editing by Alexander Smith)

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