KKR adds $9.3bn to Asia’s ballooning dry powder

Investors in Asian private equity funds have a growing problem: their money is sitting around too long and returns are dwindling. The latest mega-vehicle, raised by KKR, is another clear example. The US firm said on Friday it had raised another $9.3 billion, swelling the $110 billion of so-called dry powder that private equity firms are looking to deploy in the region, according to data provider Preqin. (see graph below). As the firm looks at ways of putting KKR Asian Fund III –…