About This Fund
KKR Asian Fund II is the second pan-Asia private equity fund raised by KKR & Co. Inc. (Kohlberg Kravis Roberts), one of the world's foremost alternative asset management firms with origins in pioneering leveraged buyout transactions since 1976. The fund reached its final close in July 2013 with $6.0 billion in committed capital, becoming the largest pan-Asian private equity fund ever raised at that time and representing a significant expansion from its predecessor, KKR Asian Fund I ($3.98 billion, 2007 vintage).
The fund pursues a buyout and control-oriented private equity strategy across the Asia Pacific region, with capital deployed across a diverse mix of markets: approximately 25% in China, 25% in South Korea, 15% in Australia, 14% in India, and the balance across Japan, Vietnam, Singapore, and other markets. Core investment themes include consumer products, technology-enabled businesses, and sector-leading companies benefiting from Asia's long-term consumption growth, urbanization, and middle-class expansion. KKR committed $265 million of its own capital to the fund alongside LP investors.
KKR Asian Fund II raised capital from 38 institutional investors globally, with 61% representing re-investments from KKR Asian Fund I LPs—reflecting Fund I's strong interim performance (13.5% net IRR, 1.48x multiple as of year-end 2012). Named LP commitments include the Canada Pension Plan Investment Board (CPPIB), New York State Teachers' Retirement System (NYSTRS), Oregon Public Employees' Retirement System ($225 million), Arizona Public Safety Personnel Retirement System, Washington State Investment Board, Cathay Life Insurance, and the W.K. Kellogg Foundation. LP capital originated 45% from the Americas, 26% from Asia, and 29% from other regions globally. The fund is domiciled in the Cayman Islands.