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Mubadala, KKR invests approximately $1 billion In Asia By Stocksak


© Stocksak. FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid

(Stocksak) -KKR & Co and Abu Dhabi state fund Mubadala Investment Co said they had entered into an agreement to invest about $1 billion in Asia.

The two companies will invest in private credit opportunities in Asia Pacific, as per the agreement announced Sunday.

Mubadala, which manages $243 billion in assets, said in a joint statement it would deploy its capital alongside KKR’s existing pools of capital, including capital from the KKR Asia Credit Opportunities Fund, a $1.1 billion credit investment vehicle KKR closed in May.

“Expanding into Asia Pacific region is core pillar of strategy as this market offers unique credit investment possibilities, driven by its rapid growing and high demand for bank capital,” Omar Eraiqaat said in the statement.

Private credit funds have seen a lot of growth in Asia over recent years as companies seek out alternative sources of funding, even though banks still account for the bulk.

Credit funds can offer higher returns for investors.

Since 2019, KKR has invested nearly $3 billion in APAC credit capital. The credit business in the region is part of KKR’s about $178 billion global credit platform.

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