The funds will target distressed assets in India and other Asian special situations and credit assets, says a source, amid rising demand for private debt.
Capital waiting to be deployed is weighing on returns and pushing up buyout valuations. KKR’s response is to tweak the strategy for its latest Asian mega-fund to put money to work faster.
Japanese investors need to carefully sift through a bumper crop of funds raising capital. Smaller gems may outperform.
Frank Tang’s private equity firm gathered capital quickly for its third vehicle despite the gloomy outlook for mainland returns and increased competition for investors’ money.
The private equity firm has named CDFC’s Paul Yang to replace David Liu. The hire rounds out the regional deal team, as KKR enters capital-raising mode for its third Asia fund.
The private equity fund attracts investors with its focus on China and the experience of its founders, allowing it to increase the size of a recent fund-raising to $1 billion.