KKR reportedly expanding presence in Singapore
25 June 2012
News, Asia, Hong Kong, Singapore
By Toby Garrod
KKR & Co LP is introducing its first deals team to Singapore as it further increases its exposure to emerging Asia investment opportunities. The team of eight will work under current Hong Kong-based regional leader Ming Lu, who will continue to head up KKR’s Southeast Asia team, according to a source quoted in a report from Reuters.
The team includes Ridha Wirakusumah, formerly president and CEO of Bank Internasional Indonesia, according to the source.
Meanwhile, KKR has raised US$2.8 billion so far for a second Asia-focused fund. The figure represents about half the expected total of US$6 billion that it intends to raise for Asia-based investments, according to a source quoted in the Wall Street Journal. The firm began raising capital for the fund in early 2012.
Of the total amount raised so far, US$250 million was committed from its general partners, while the rest came from various investors worldwide, KKR said in a June 22 filing.
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