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Report: KKR seeks to diversify into tech space with new $300M Asian fund

KKR & Co. is planning to raise $300 million for an Asia-focused fund that would invest in the technology, media and telecommunications space, the Financial Times reported, citing people familiar with the matter.

The global investment firm reportedly is considering pivoting toward the technology space as executives in Asia are increasingly becoming more receptive to selling control of their businesses to financial backers. The new tech fund would supplement KKR's third buyout fund in Asia, which closed at $9.3 billion in 2017.

KKR aims to launch fundraising for the new investment vehicle in the coming months as the investment period for KKR Asian Fund III expires, the people told FT.

Separately, Reuters reported, citing people close to the matter, that KKR has tapped Credit Agricole to look for a buyer of ELL GmbH, or European Locomotive Leasing.

Vienna-headquartered ELL, which buys and leases locomotives to train operators, could be worth several hundred million euros in a sale, according to the report. KKR bought a stake in the business in 2014.

Neither KKR nor Credit Agricole commented on the planned sale, according to Reuters.