KKR’s New India Credit Fund Raises $160 Million
VCCircle reports that New York-based private equity firm Kohlberg Kravis Roberts & Co Ltd., (KKR) marked the pre-close of its second India-focused credit fund at $160 million, with the aim of finally closing at $298 million in a few months. The company will invest in structured credit situations in either promoter holding entities or companies over two to three years.
B.V. Krishnan, head of KKR’s credit and capital markets business in India, told the Economic Times, “The idea is to back quality promoters and good businesses, helping them create a proper capital structure by cleaning up short-term liabilities, providing grown capital, and in some cases helping them consolidate their equity ownership.” The fund will have a private-equity approach for a debt market “which has done extremely well for us,” he added.
KKR has been an active investor in India through both its PE and credit portfolio businesses; it is also active in the non-banking finance sector in India to give a push to its credit business.