KKR has announced the final closing of its KKR Asian Fund III on $9.3 billion, making it the largest PE vehicle ever focused on the Asia Pacific region, according to the PitchBook Platform. The pool is significantly larger than its predecessor, KKR's $6 billion Asian Fund II, which previously held that distinction.
The firm, along with its employees, committed approximately $800 million, marking its second-largest commitment to a fund. KKR's Asia Pacific strategy involves both traditional control transactions as well as growth equity investments, and since opening its first Asia Pacific office in 2006, the firm has invested over $12 billion in Pan-Asia deals. The fully deployed KKR Asian Fund II, which began investing in late 2013, has generated a net IRR of 20.6%, as of the end of 1Q.