Setting a new record for the region, KKR – a private equity firm, has been able to raise around $9.3 billion for its most recent Asia-focused buyout fund. With this, the company broke its previous record of $6 billion Asian Fund II in 2013.
The reason behind this grand achievement is KKR’s recent involvements in many big deals with several companies in Japan. Some of these deals are $2.3 billion acquisition for Hitachi Ltd’s chip-making equipment and video solution unit in April and $1.3 billion deal for power tools firm Hitachi Koki Co Ltd in January. The company also signed a deal of $4.5 billion with Calsonic Kansei Corp, an auto parts supplier, in the end of the last year.
Apart from these deals, the firm has partnered with Canada Pension Plan Investment Board (CPPIB) for a 10.3 percent stake in Indian telecom tower operator Bharti Infratel worth $953 million in March. Also, it has invested around $250 million in Vietnamese food producer Masan Group Corp in April.
KKR says that it has invested more than $12 billion across Asia region in almost 55 companies since its entrance in Asia in 2006.
“We see a diverse set of opportunities across Asia Pacific stemming from rising consumption and urbanization trends in key markets as well as larger carve-out and cross-border transactions in countries such as Japan,” Ming Lu, Head, Asia Private Equity, KKR.
Source: ET Realty