KKR Expanding into Hong Kong

Kohlberg Kravis Roberts is placing an early bet on a slowdown in the Chinese economy, and plans to expand into Hong Kong in the next six to nine months with its $2 billion special situations unit, Reuters reported, citing a story in the Financial Times. The buyout group's plans follow news that top TPG Capital dealmaker Weijian Shan has raised $875 million for a distressed asset fund to invest in Asia under his PAG group.

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