KKR musters resources for technology deals in Asia-Pacific, raises fund and names Lucian Schoenefelder head of team
- Schoenefelder was previously leader of firm’s European technology growth deals
- New York-based firm is also raising regional technology fund
Global investment firm KKR is building a team and raising funds for technology deals across the Asia-Pacific region, people familiar with the matter said, as valuations tumble across the public and private markets.
The firm has named Lucian Schoenefelder, previously leader of its European technology growth deals, to spearhead the effort. As Asia-Pacific head of technology, Schoenefelder’s role will be twofold: first, to help with private-equity deals, generally larger than US$100 million in size; and second, to build a growth equity business that signs smaller transactions.
KKR, which has a long history of buyouts, is expanding into different areas of private market investing. The New York-headquartered firm had amassed about US$218 billion in assets under management by the end of 2019 from global investors seeking higher-yielding instruments, as central banks slashed interest rates to record lows.
In Asia, technology is the latest string in KKR’s bow, but it has nurtured credit, property and infrastructure strategies in recent years.