KKR Asia Credit Fund Draws 75% New Investors as Decoupling Rises

KKR & Co. raised three-quarters of its $2.5 billion Asia private credit fund from new investors, as deepening economic decoupling pushes firms to broaden exposure and hedge geopolitical risk, according to top executives.

Diversification has been a central theme in conversations with global insurance companies, sovereign wealth funds and pensions that are turning to Asia for yield as pockets of the US and European credit markets look increasingly crowded, Diane Raposio, head of Asia credit and markets, said in an interview.

“What we’re starting to see, with some of this geopolitics, is Asia maybe decoupling,” she said. “We are ...