Friday, 17 April 2015
Last updated 10 hours ago
Jul 11 2013 | 12:18pm ET
Kohlberg Kravis Roberts has raised the largest-ever Asia-Pacific private equity fund, with US$6 billion in commitments.
KKR had targeted that amount for its second fund focused on the region. The firm's previous Asia fund raised US$4 billion in 2007, and a China-focused fund netted US$1 billion in 2010.
KKR said the new fund would aim to profit from rising consumer, retail, healthcare, education and industrial demand in Asia. The firm last year opened a Singapore office, its seventh in the region.
The Singapore office gives KKR a local presence in Southeast Asia, but the new fund is likely to focus more on a developed market than emerging ones. KKR's Japan chief, Hirofumi Hirano, told reporters today that a significant chunk of the US$6 billion will be invested in that country.
Hirano said that KKR hoped to participate in the restructuring of Japanese industry, and would invest in junk-rated firms with the potential for a recovery.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…