First, KKR has hired Ashish Shastry, formerly a top executive at Northstar Group, to head its operations in Southeast Asia starting later this year, according to multiple reports. Earlier in August, KKR and Northstar were co-investors on a $550 million backing of Go-Jek, an Indonesian ridesharing business.
Second, KKR is planning to launch a new Pan-Asian fund by the end of the year that will target between $6 billion and $7 billion, according to the Asian Venture Capital Journal. The fund’s predecessor, KKR Asian Fund II, closed on $6 billion in 2013.
KKR’s recent activity in Asia has been on the uptick, with deal count increasing every year since 2012 and reaching a peak of 14 transactions in 2015. Among the firm’s more notable recent deals in the region were a take-private buyout of Singapore's United Envirotech that valued the company at about SGD1.9 billion ($1.4 billion) and the acquisition of a controlling stake in South Korean mobile commerce company Ticket Monster at a $782 million valuation.