KKR's First Asia Hedge Fund

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

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