By Anshuman DagaSINGAPORE (Reuters) -KKR has raised $1.1 billion in its inaugural Asia credit fund that provides debt financing to companies, marking what the U.S. private equity firm said was one of the largest such first-time fundraisings in Asia Pacific. Private credit funds have gained traction in Asia in the last few years as companies tap into alternative sources of funding though banks still account for the bulk of financing. Investors are drawn to credit funds due to potentially higher returns. KKR said in a statement on Wednesday the Asia Credit Opportunities Fund, which saw its final close, received strong support from investors including sovereign wealth funds, insurers and private investment groups. Large private equity funds and investment firms have also launched Asia-dedicated credit funds, with some of them focussed on distressed opportunities.

Source: MetroXpress May 25, 2022 03:02 UTC