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Finance

KKR expands in Asia, armed with $1.1bn credit fund

U.S. firm calls it one of the largest such first-time fundraisings in region

Kuala Lumpur's skyline, including the landmark Petronas Twin Towers. In the Asia-Pacific region, KKR has closed 14 credit investments in markets including Australia, greater China, India, South Korea and Malaysia.   © Reuters

SINGAPORE (Reuters) -- KKR has raised $1.1 billion in its inaugural Asia credit fund that provides debt financing to companies, marking what the U.S. private equity firm said was one of the largest such first-time fundraisings in the Asia-Pacific region.

Private credit funds have gained traction in Asia in the last few years as companies tap into alternative sources of funding, though banks still account for the bulk of financing. Investors are drawn to credit funds due to potentially higher returns.

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