KKR, the global investment management firm listed on the New York Stock Exchange under the symbol KKR, has formally announced the completion of a significant capital raise totaling $2.5 billion for its Asia Pacific private credit strategy. This fundraising initiative primarily allocates $1.8 billion to the KKR Asia Credit Opportunities Fund II, known as ACOF II, while an additional $700 million was attracted via separately managed accounts focused on the same universe of performing credit investments in Asia. The culmination of these efforts establishes ACOF II as the largest performing private credit fund dedicated to the pan-Asian region, underscoring the firm’s commitment to expanding its footprint in these markets.
ACOF II follows the footsteps of KKR’s original Asia Credit Opportunities Fund launched in 2022, which raised $1.1 billion to become the largest inaugural pan-regional performing credit vehicle in this space. Since inception, KKR’s Asia Credit platform has deployed capital through 10 investments tied to ACOF II, with commitments from KKR totaling approximately $1.9 billion. Complementing these commitments, additional capital pools have fueled a cumulative total transaction volume amounting to $4.6 billion in performing, privately originated credit deals. This track record reflects a concerted strategy to provide tailored financing solutions to businesses and sponsors in the region.
Diane Raposio, partner and head of Asia credit and markets at KKR, articulated the firm’s strategic positioning by emphasizing the importance of Asia within KKR’s global credit framework. Raposio noted that the successful closing of ACOF II highlights the breadth and scale of KKR’s Asia credit platform capabilities, which integrate both private and liquid market strategies. She also pointed to growing investor demand for credit allocations in Asia as a critical factor shaping KKR’s ongoing investment activity.
The Asia Credit business unit adopts a bespoke approach, focusing on delivering customized private credit solutions that leverage KKR’s extensive investment expertise and global credit management capacity. The team employs local market knowledge combined with KKR’s global resources to source, conduct due diligence, and execute transactions that provide borrowers with financing structures tailored to their specific needs. This also includes pursuing value creation opportunities and prioritizing protections for lender capital.
ACOF II retains the investment themes of its predecessor by concentrating on performing, privately originated credit opportunities. The fund targets three main investment categories: senior and unitranche direct lending, capital solutions that address cross-border and complex financing requirements, and collateral-backed investments offering secured exposure.
According to SJ Lim, managing director and head of Asia Private Credit at KKR, private credit markets in Asia remain nascent but present compelling investment prospects. Lim emphasized that their performing credit strategy aligns with enduring macro-level structural trends impacting the region, such as urbanization, expanding consumption patterns, and accelerated digital technology adoption. These factors drive long-term private market growth and investment demand for credit products.
The capital raise for ACOF II drew substantial backing from a mix of new and existing investors. This investor base encompasses entities spanning insurance companies, public and corporate pension funds, sovereign wealth funds, family offices, banking institutions, corporate entities, and asset management firms. This diversified support base underscores confidence in KKR’s credit strategy and the Asia Pacific market potential.
KKR’s Asia Credit strategy’s activity since 2019 has been extensive, closing more than 60 distinct investments across the region. Total committed capital managed by KKR in Asia private credit has reached approximately $8.3 billion, reflecting participation in transactions aggregating $27.5 billion in total value. The firm’s investments span acquisition financing and tailored capital solutions across multiple sectors, including health care, education, real estate, logistics, and infrastructure.
Geographically, KKR targets credit investments across several key Asia Pacific markets. These include Australia, Greater China, India, Japan, Korea, New Zealand, and Southeast Asia. This broad regional focus enables KKR to leverage diverse market dynamics and opportunities as part of its credit investment approach.
On a global scale, KKR manages roughly $282 billion in credit assets as of September 30, 2025. This portfolio includes about $143 billion allocated to leveraged credit strategies, $131 billion dedicated to private credit, and an additional $8 billion invested in strategic credit initiatives. The firm’s credit division is supported by an expansive team of approximately 250 credit investment professionals operating from 12 offices worldwide, enabling integrated execution capabilities.
Despite this significant capital deployment and strategy scale, KKR shares have experienced limited price movement in the immediate aftermath of the fundraising announcement. Nevertheless, the close of ACOF II signals a strong vote of confidence in Asia’s private credit markets and validates KKR’s strategic emphasis on this region within its global credit platform.
ACOF II follows the footsteps of KKR’s original Asia Credit Opportunities Fund launched in 2022, which raised $1.1 billion to become the largest inaugural pan-regional performing credit vehicle in this space. Since inception, KKR’s Asia Credit platform has deployed capital through 10 investments tied to ACOF II, with commitments from KKR totaling approximately $1.9 billion. Complementing these commitments, additional capital pools have fueled a cumulative total transaction volume amounting to $4.6 billion in performing, privately originated credit deals. This track record reflects a concerted strategy to provide tailored financing solutions to businesses and sponsors in the region.
Diane Raposio, partner and head of Asia credit and markets at KKR, articulated the firm’s strategic positioning by emphasizing the importance of Asia within KKR’s global credit framework. Raposio noted that the successful closing of ACOF II highlights the breadth and scale of KKR’s Asia credit platform capabilities, which integrate both private and liquid market strategies. She also pointed to growing investor demand for credit allocations in Asia as a critical factor shaping KKR’s ongoing investment activity.
The Asia Credit business unit adopts a bespoke approach, focusing on delivering customized private credit solutions that leverage KKR’s extensive investment expertise and global credit management capacity. The team employs local market knowledge combined with KKR’s global resources to source, conduct due diligence, and execute transactions that provide borrowers with financing structures tailored to their specific needs. This also includes pursuing value creation opportunities and prioritizing protections for lender capital.
ACOF II retains the investment themes of its predecessor by concentrating on performing, privately originated credit opportunities. The fund targets three main investment categories: senior and unitranche direct lending, capital solutions that address cross-border and complex financing requirements, and collateral-backed investments offering secured exposure.
According to SJ Lim, managing director and head of Asia Private Credit at KKR, private credit markets in Asia remain nascent but present compelling investment prospects. Lim emphasized that their performing credit strategy aligns with enduring macro-level structural trends impacting the region, such as urbanization, expanding consumption patterns, and accelerated digital technology adoption. These factors drive long-term private market growth and investment demand for credit products.
The capital raise for ACOF II drew substantial backing from a mix of new and existing investors. This investor base encompasses entities spanning insurance companies, public and corporate pension funds, sovereign wealth funds, family offices, banking institutions, corporate entities, and asset management firms. This diversified support base underscores confidence in KKR’s credit strategy and the Asia Pacific market potential.
KKR’s Asia Credit strategy’s activity since 2019 has been extensive, closing more than 60 distinct investments across the region. Total committed capital managed by KKR in Asia private credit has reached approximately $8.3 billion, reflecting participation in transactions aggregating $27.5 billion in total value. The firm’s investments span acquisition financing and tailored capital solutions across multiple sectors, including health care, education, real estate, logistics, and infrastructure.
Geographically, KKR targets credit investments across several key Asia Pacific markets. These include Australia, Greater China, India, Japan, Korea, New Zealand, and Southeast Asia. This broad regional focus enables KKR to leverage diverse market dynamics and opportunities as part of its credit investment approach.
On a global scale, KKR manages roughly $282 billion in credit assets as of September 30, 2025. This portfolio includes about $143 billion allocated to leveraged credit strategies, $131 billion dedicated to private credit, and an additional $8 billion invested in strategic credit initiatives. The firm’s credit division is supported by an expansive team of approximately 250 credit investment professionals operating from 12 offices worldwide, enabling integrated execution capabilities.
Despite this significant capital deployment and strategy scale, KKR shares have experienced limited price movement in the immediate aftermath of the fundraising announcement. Nevertheless, the close of ACOF II signals a strong vote of confidence in Asia’s private credit markets and validates KKR’s strategic emphasis on this region within its global credit platform.