KKR finalises Asian lineup

Ming Lu has signed on as a managing director in the new Hong Kong office of Kohlberg Kravis Roberts. Lu had previously served as a partner at JPMorgan spinout CCMP Capital Asia.

Kohlberg Kravis Roberts continues to bolster its bench in Asia. The New York-based firm poached Ming Lu from CCMP Capital Asia (FKA: JPMorgan Partners Asia) to serve as a managing director in its new Hong Kong office.

Lu: KKR’s recruitment of CCMP’s Ming Lu completes the firm’s roster for its Hong Kong office.

Ming’s hiring completes KKR’s senior lineup for its new Asian arm. The firm moved quickly in assembling the team. In September, KKR announced that managing director Joseph Bae and principal Justin Reizes would spearhead the firm’s push into Asia.

The move, according to a statement from firm co-founder George Roberts, was a significant step “in positioning KKR as a truly global private equity firm…”

A month later, the firm appointed Sir Deryck Maughan as the chairman of KKR Asia and inserted the former Citigroup International chairman as a managing director in the firm. This past January, the former co-head of Morgan Stanley’s Asian private equity arm, David Liu, joined the team as well.

“Following the recent arrival of David Liu, Ming’s appointment completes the formation of our senior team in Hong Kong,” Bae said in a statement.

A spokeswoman for KKR declined to comment on whether the firm will begin raising a dedicated Asian fund or if its investments in the region would come out of a global vehicle.

KKR is reportedly preparing to launch a new global fund that could approach $10 billion in size.

The Asian market has seen a significant pop in private equity interest. The Asia Pacific region, for instance, raised over $17.2 billion (€14.2 billion) last year, acccording to the Centre for Asia Private Equity Research. That number represents the highest sum since the organisation began keeping track and approaches almost three times the amount raised the previous year.