KKR invests $366m in Singapore’s V3 Group

The private equity firm said it would take a significant stake in the business via its third Asian fund, which closed at $9.3 billion last year. The capital is expected to support of brands including TWG Tea in Japan and OSIM, a wellness products retailer, in China. 

"V3 is a landmark investment for KKR in a leading luxury group in Asia, underscoring our strong belief in the continued growth of the region’s consumer sector,” Jaka Prasetya, a partner at KKR, said in a statement. “At KKR, we aim to provide support and capital to successful home-grown, regional companies like V3 in order to capture opportunities across Asia and beyond.”

V3 has three major business streams, lifestyle, wellness, and specialist fixtures, and a presence in more than 100 cities in 26 countries. Its Futuristic Store Fixtures subsidiary manufactures customized building fixtures used to refurbish and embellish shops with a view to improving launch success.

KKR co-founder Henry Kravis has expressed confidence that Southeast Asian businesses would benefit from ongoing global trade tensions. The firm has recently made a number of sizeable investments across various sectors in the region, including consumer goods company Unilever Indonesia and Singapore-based property portal PropertyGuru.

In October, KKR backed a $175 million round for Voyager Innovations, a financial technology unit of Philippines telecom giant PLDT. It is the GP's first deal in the country and was said at the time to be the largest-ever investment in a local technology company.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Southeast Asia
• Consumer
• Expansion
• Singapore
• KKR
• Growth capital