Kohlberg Kravis Roberts Seals Its First Asia Hedge Fund
Following to sources, an American multinational private equity firm Kohlberg Kravis Roberts closed its first Asia hedge-fund partnership backing a startup by the former regional chief of York Capital Management LP.
Feng
Hsiung’s Hong Kong-based Acion Partners Ltd. will start a pan-Asia
event-driven hedge fund in the first quarter of 2015, investing in
equities and credit, said the people, who asked not to be identified as
the information is private.
The
private-equity firm led by billionaires Henry Kravis and George
Roberts, based in New York, will take an unspecified minority stake in
Acion as part of the broader partnership, they added. Anita Davis, a
Hong Kong-based spokeswoman for KKR, declined to comment on the deal.
Private-equity
firms like KKR, Blackstone Group LP and Carlyle Group LP have been
diversifying businesses beyond leveraged buyouts, in part by buying
stakes in hedge-fund firms. KKR has been scouting for such opportunities
in Asia, which has fast-growing economies and diverse markets where
reforms are creating new opportunities, said the people.
Source: Bloomberg
