KKR has announced the completion of a $2.5bn fundraise focused on committing capital to privately originated performing credit investments in Asia Pacific.

The fundraise includes $1.8bn in KKR Asia Credit Opportunities Fund II (ACOF II) and $700m raised from separately managed accounts focused on the same types of investment opportunities, according to a statement by the private markets investment firm.

ACOF II closely follows KKR’s inaugural Asia Pacific-dedicated private credit fund, KKR Asia Credit Opportunities Fund, which closed at $1.1bn in 2022 as its inaugural pan-regional fund focused on performing credit.

KKR’s Asia credit platform has signed 10 investments through ACOF II representing $1.9bn in KKR commitments, including other pools of capital, and a total transaction volume of $4.6bn.

Diane Raposio, partner and head of Asia credit & markets at KKR, said “Asia is a key pillar of KKR’s global credit strategy. The close of ACOF II demonstrates the breadth and scale we have built across our Asia credit platform, spanning both private and liquid markets. We are seeing growing investor demand for allocation to credit in the region.

KKR’s Asia Credit team uses KKR’s local and global resources to source, diligence, and execute investment opportunities to provide borrowers with customised financing and value creation potential while ensuring lender capital protections, said the firm.

Like its predecessor, ACOF II will pursue investments in performing privately originated credit and target opportunities across three primary investing themes, including senior and unitranche direct lending, capital solutions, and collateral-backed investments.

SJ Lim, managing director and head of Asia private credit at KKR, said “Private credit remains a relatively nascent yet compelling opportunity across the region…Our performing credit strategy is based on the same long term structural themes such as rising consumption, urbanisation and digitalisation that have underpinned the growth of private markets in Asia.”

The Fund received support from a diverse group of new and existing investors, including insurance companies, public and corporate pension funds, sovereign wealth funds, family offices, banks, corporates, and asset managers.

In Asia Pacific, KKR has closed over 60 investments through its Asia Credit strategy since 2019, accounting for approximately $8.3bn invested by KKR and total transaction value of $27.5bn. This has included providing acquisition financing and capital solutions for companies and financial sponsors in the healthcare, education, real estate, logistics, and infrastructure sectors. KKR targets credit investments in Australia, Greater China, India, Japan, Korea, New Zealand, and Southeast Asia.

KKR manages approximately $282bn of credit assets globally, including about $143bn leveraged credit, $131bn in private credit, and approximately $8bn in strategic investments, as of September 30, 2025. KKR has a team of around 250 credit investment professionals across 12 offices globally.