Global investment firm KKR has completed a US$2.5 billion fundraising exercise for private credit investments in the Asia-Pacific region. The fundraise includes US$1.8 billion in KKR Asia Credit Opportunities Fund II ( ACOF II ) and US$700 million raised from separately managed accounts.

At close, ACOF II is the largest pan-regional performing private credit fund in Asia-Pacific. This follows KKR’s inaugural Asia-Pacific-dedicated private credit fund, KKR Asia Credit Opportunities Fund, which raised US$1.1 billion in 2022. The firm's Asia Credit platform has signed 10 investments through ACOF II, representing US$1.9 billion in KKR commitments, and a total transaction volume of US$4.6 billion.

Diane Raposio, partner and head of Asia credit and markets at KKR, comments: “Asia is a key pillar of KKR’s global credit strategy. The close of ACOF II demonstrates the breadth and scale we have built across our Asia credit platform, spanning both private and liquid markets. We are seeing growing investor demand for allocation to credit in the region. Our pan-Asia approach and ability to leverage the broader KKR Asia platform uniquely positions us to continue sourcing and executing interesting opportunities across the region for our investors.”

KKR’s Asia Credit platform seeks to provide bespoke private credit solutions to companies and sponsors, harnessing the strength of its investment capabilities and expertise as one of the largest credit managers globally. Like its predecessor, ACOF II will pursue investments in performing privately originated credit and target opportunities across three primary investing themes, including senior and unitranche direct lending, capital solutions, and collateral-backed investments.

SJ Lim, managing director and head of Asia private credit at KKR, adds: “Private credit remains a relatively nascent yet compelling opportunity across the region. We see strong demand for private credit as an important tool for sponsors or corporates seeking flexible financing solutions and bespoke, partnership-oriented capital to support growth and meet their diverse needs. Our performing credit strategy is based on the same long term structural themes such as rising consumption, urbanization and digitalization that have underpinned the growth of private markets in Asia.”

The fund received strong support from a diverse group of new and existing investors, including insurance companies, public and corporate pension funds, sovereign wealth funds, family offices, banks, corporates, and asset managers.

In Asia-Pacific, KKR has closed over 60 investments through its Asia Credit strategy since 2019, accounting for approximately US$8.3 billion invested by KKR and total transaction value of US$27.5 billion. This has included providing acquisition financing and bespoke capital solutions for companies and financial sponsors in the healthcare, education, real estate, logistics, and infrastructure sectors. KKR targets credit investments in Australia, Greater China, India, Japan, Korea, New Zealand, and Southeast Asia.

Over the past two decades KKR has built one of the largest credit investment platforms globally with the ability to invest across the capital structure and liquidity spectrum. These capabilities are paired with KKR’s approach to proprietary sourcing, capital preservation, and active portfolio management to seek out long-term capital appreciation and attractive risk-adjusted returns.

Today, KKR manages approximately US$282 billion of credit assets globally, including approximately US$143 billion in leveraged credit, approximately US$131 billion in private credit, and approximately US$8 billion in strategic investments, as of September 30, 2025. The firm has a team of about 250 credit investment professionals across 12 offices globally.