KKR eyes Japanese private credit
US-based alternative asset manager KKR is mulling entering the private credit market in Japan, according to a report in Bloomberg.
The group’s Japan head Hiro Hirano told Bloomberg that it will be a “medium to long-term initiative” that goes hand in hand with KKR’s plans to increase its offerings for institutional and high-net-worth investors in the country.
KKR is not the only private credit manager to eye Japan, where firms are looking to seize on the opportunity to provide an alternative to bank loans.
Read more: Private credit is here to stay, says KKR
Blue Owl Capital opened an office in Tokyo last year, while Ares Management chief executive Michael Arougheti previously said that they will open an office in the capital this year.
As Japanese investors increasingly seek to move their capital into private markets, asset managers have sought to fill the gap, launching dedicated strategies and increasing distribution in the country.
Last year, Blackstone partnered with Daiwa Securities to launch the first publicly-offered private credit fund in the country to invest in US loans.
Read more: KKR’s alternative credit portfolio returned 4pc in Q1
Read more: Dimon warns of “hell to pay” as private credit attracts more retail money
