KKR opens office in Singapore

The global private equity firm's Southeast Asia team is headed up by regional leader of Southeast Asia Ming Lu, and includes directors Kabir Mathur from Singapore and Ridha Wirakusumah from Indonesia. Four years ago, KKR had just 3-4 PE professionals dedicated to the region, but a total of eight are relocating to Singapore and there are plans to hire at least two more.

"Singapore is at the heart of the dynamic growth that is taking place across Southeast Asia," commented Henry Kravis, co-founder, co-chairman and co-CEO of KKR. "Now is the time to establish a permanent presence. This means we will be even more committed to understanding local business environments, their unique challenges and opportunities, and the specific needs of entrepreneurs, investors, workers and business leaders."

KKR has invested more than $1 billion in Southeast Asia since 2005, making it the firm's second largest investment destination in Asia after China. Ming Lu told Reuters on Thursday that it could invest more than that amount in the region over the next five years.

The firm's four regional transactions to date have been Avago, MMI and Unisteel, all headquartered in Singapore - and a US$159 million investment in Masan Consumer, Vietnam's largest-ever private equity deal.

The move comes as global buyout firms place an increased emphasis on Southeast Asia, and Indonesia in particular. CVC Capital Partners and TPG Capital both have relatively large teams on the ground and have managed to source deals, the latter through its partnership with local GP Northstar Pacific Partners.

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• Topics
• Southeast Asia
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• KKR
• Singapore