KKR is in the process of relocating a New York-based managing director to Hong Kong to oversee its Asia-Pacific private debt business, according to a source familiar with the matter.
Brian Dillard, who is expected to head KKR’s private credit team in Asia-Pacific, previously worked in Hong Kong assisting in the development of the firm’s Asian operations during 2008 and 2009, according to a public disclosure. He moved to New York when joining KKR’s special situations business as a portfolio manager.
He has been coordinating with credit platform team members in the region and is expected to relocate to Hong Kong during late July and early August, according to the source.
In a further personnel move, Stuart Blieschke, who oversaw KKR’s private credit team based in Sydney, has left the firm. Blieschke relocated from Hong Kong to Sydney this year. He was a former director in Pacific Alliance Group (PAG)’s absolute return team.
“Stuart has been a valued contributor to KKR and we wish him all the best in the next stage of his career,” a spokesperson from KKR confirmed with PDI today.
The spokesperson also confirmed both of the personnel moves but declined to comment further on the details.
KKR’s private credit team in Australia had invested $700 million across about 10 transactions as of 26 June, the source said. The firm’s portfolio includes Australia-based Pepper Group.
On 8 January KKR announced that it held the final closing of KKR Private Credit Opportunities II (PCOP II) at $2.24 billion. The global fund targets investments in subordinated debt securities, corporate mezzanine investments, asset-backed and specialty finance investments.
KKR managed $176.4 billion as of 31 March, an increase of $7.9 billion primarily from new capital raised and a value increase in both private equity and credit strategies, compared to Q4’s $168.5 billion, according to its latest earnings result. It also disclosed that it will become a C-corporation from 1 July.
Its credit platform is composed of two divisions: Marketable Securities Division and Alternative Investments Division. The latter invests in distressed or event-driven situations, mezzanine financing and direct lending among other strategies.
It has offices in New York, San Francisco, Orlando, London, Dublin, Madrid, Hong Kong, Singapore, Sydney, and Mumbai.