KKR receives $225m from Oregon Investment Council

The Oregon Public Employees Retirement Fund invested $200 million, and Oregon's Common School Fund committed another $25 million. The plan was approved on Thursday by the Oregon Investment Council, Bloomberg reported.

As of last month, KKR had reportedly attracted commitments of $2 billion for the fund, which is expected to announce a first close in June. Washington State Investment Board committed $400 million.

Like many of its counterparts globally, the private equity firm is said to be offering investors the choice of a lower management fee or a greater share of commission levied on portfolio companies. KKR has made 22 investments in Asia, committing about $4.6 billion in equity. Its first Asia fund, raised in 2007, is worth $4 billion.

The private equity firm currently manages almost $3 billion, or 6%, of Oregon's $57 billion pension fund investments. It is the major manager in Oregon's $13.7 billion private equity portfolio, Oregon Live reported. The pension fund also invested $100 million in KKR's first Asian vehicle.

The news comes after The Carlyle Group also made initial approaches to investors regarding its $3.5 billion fourth Asia buyout fund. Carlyle's previous Asia fund closed at $2.55 billion in April 2010. TPG Capital is also nearing a first close of $1.5 billion on its latest vehicle, which has a full target of at least $4 billion, reported in April. Government of Singapore Investment Corp. (GIC) is expected to be the largest investor.

Bain Capital, meanwhile, launched its second Asia fund last June, with a fundraising target higher than the $1 billion raised for its previous fund, and PAG last year reached a first close of $1.7 billion on its $2.7 billion debut vehicle.

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• Topics
• Fundraising
• Buyout
• KKR
• buyout
• The Carlyle Group
• TPG Capital
• Bain Capital Asia
• PAG