KKR Reshuffles Asia Buyout Team as it Starts Investing New $15 Billion Fund

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Since December 2020, KKR’s heads of private equity in India, Greater China, Australia and Southeast Asia have stepped down. Photo: Bloomberg

(Bloomberg) — KKR & Co. Inc. has overhauled its Asia-Pacific private equity team in the early stages of allocating capital from its $15 billion regional fund as deal-making sputters on strained U.S.-China relations.

Ming Lu, the firm’s Asia-Pacific head, will become executive chairman for the region to spend time on strategic initiatives, according to a letter sent to investors. Hiro Hirano will relinquish his role as co-head of private equity to become deputy executive chairman, while maintaining his role as head for Japan, according to the letter seen by Bloomberg.