Joseph Bae has been busy since landing in Hong Kong in 2005. Not only did he launch Kohlberg Kravis Roberts & Co.’s operations in Asia, he also built the team from two executives in Hong Kong to 92 in six offices across the region.
Despite the global economic slump, private equity firms like KKR are pushing to expand across Asia. Chief among their target markets is China, where some are establishing yuan-denominated funds with local partners.
Today, 22 percent of private equity funds raising money have Asia-Pacific as their primary focus, up from 9 percent in 2008, according to research firm Preqin. Asia now rivals Europe for investor dollars, with the latter accounting for 23 percent of fundraising in 2011, says Preqin.
KKR’s Bae manages the $4 billion KKR Asian Fund and the $1 billion KKR China Growth Fund. In total, he’s helped the buyout firm to invest or commit to invest a total of $4.5 billion in 22 companies, nearly one third of the 74 portfolio companies KKR currently has stakes in around the globe. ....