RIYADH: KKR & Co. has raised $1.1 billion in its inaugural Asia credit fund that provides debt financing to companies, expecting volatility will spark opportunities and deliver high returns, according to Bloomberg. The global private equity firm said it plans to play a larger role in meeting the unmet demand for private credit in Asia, where it sees an imbalance of financing despite the region’s economic growth. “During times of uncertainty and volatility, traditional capital pulls back and that is an opportunity for alternative capital,” its head of Asia credit, Brian Dillard said, in an interview. KKR contributed over $100 million to the fund through its balance sheet and employee commitments. The firm has closed 14 credit investments in Asia since 2019, amounting to around $2.4 billion in investments. These investments ranged from real estate, education, and infrastructure to healthcare and bespoke credit loans for a variety of sectors. Since 2004, KKR has operated its credit platform in Australia, China, India, Korea, Malaysia, New Zealand, Singapore, and Vietnam. The firm manages approximately $184 billion of credit assets globally at the end of March.