KKR & Co. LP closed its KKR Asian Fund III after raising US$9.3 billion.

The fund, created to focus on investments in Asia-Pacific private equity deals, was backed by new and existing global investors. The investors include public and corporate pensions, sovereign wealth funds, insurance companies, endowments, family offices and high-net-worth individual investors, according to a June 1 release.

KKR Asian Fund III exceeded KKR's US$6 billion Asian Fund II to become the largest private equity fund to invest in the region, according to Preqin, a financial data research firm.