KKR Hires Ken Murata to Lead Japan Private Credit Push

Key Takeaways

Sector: Multisector - Generalist.
Geography: Japan.

Analysis

Tokyo, Japan – August 6, 2025 – KKR, one of the world’s largest alternative investment firms, has appointed Ken Murata as its first dedicated hire to lead private credit operations in Japan. Murata joins as Managing Director in September and will report to Diane Raposio, Head of Asia Credit and Markets at KKR.

The hire underscores KKR’s commitment to expanding its credit investment platform across Asia-Pacific, with Japan identified as a key strategic growth market. To date, KKR has deployed more than $6 billion in credit capital across the region.

Ken Murata brings over two decades of experience to the role. He previously served as Managing Director and Head of the Strategic Solutions and Financing Group at Goldman Sachs, and earlier held positions at UBS Group AG. His deep background in structured financing and capital markets will play a critical role as KKR builds a scalable private credit presence in Tokyo.

“Murata’s appointment signals a major milestone in KKR’s long-term Japan strategy,” said a spokesperson familiar with the firm’s Asia-Pacific credit initiatives. “Japan offers a compelling opportunity set for direct lending, private debt and alternative credit across mid-market and large-cap borrowers.”

Private Credit Platforms Scale Up in Japan

KKR’s move comes amid a surge in global private credit activity in Japan. The market is drawing attention as both a source of institutional capital and a viable alternative lending environment, particularly amid tightened traditional bank lending practices.

Apollo Global Management named Japan one of its “core Asia credit markets” and expanded its team in Tokyo earlier this year.
Ares Management launched a Tokyo office in 2024 and has since scaled its direct lending platform across Japanese corporates.
Blue Owl Capital opened its Japanese office in 2023 and is reportedly raising a regional fund targeting Asia-Pacific private debt opportunities.

Japan’s low-interest rate environment, large corporate sector, and deep institutional investor base make it a compelling private credit ecosystem. Global managers are targeting senior secured loans, hybrid capital, asset-backed lending and bespoke structured credit solutions.

KKR’s broader credit strategy in Asia includes direct lending, opportunistic credit, and structured capital. The firm views Japan as not only a borrower market but also as a source of institutional LP capital for its global credit strategies.

With the appointment of Ken Murata and a dedicated Tokyo-based credit function, KKR is now positioned to capture both sides of Japan’s evolving private credit opportunity—supporting capital needs of corporates while deepening ties with institutional investors seeking yield and diversification.