KKR(US:KKR) Xin Lang Zheng Quan·2025-08-22 06:32Group 1 - KKR's first onshore RMB fund, with a scale of approximately 400 million RMB, has been officially registered in Shanghai's Lingang New Area, marking a significant milestone in China's capital market opening [1][2] - The fund's structure highlights the importance of local capital, with Ping An Capital contributing 79.8% of the funding, indicating a strategic collaboration between foreign and domestic institutions [2][3] - The establishment of this fund reflects KKR's deep localization strategy and the evolving landscape of foreign investment in China's financial market [2][6] Group 2 - The launch of KKR's RMB fund coincides with a critical moment for the revaluation of Chinese assets, as the total market capitalization of A-shares surpassed 100 trillion RMB for the first time on August 18, 2025 [4] - There is a notable shift in international capital's attitude towards investing in China, with foreign LPs increasingly seeking opportunities in Chinese technology companies [4][5] - The regulatory environment is becoming more favorable for foreign investments, as policies are being implemented to facilitate cross-border investments and mergers [4][5] Group 3 - KKR's investment strategy in China is becoming more precise, focusing on mature industries with stable competitive landscapes and high pricing power [6][7] - Despite a decrease in the number and amount of investments in recent years, KKR believes that there are more merger and acquisition opportunities now than in the past [6][7] - KKR's global investment focus is shifting towards tangible assets, with infrastructure assets being highlighted as a resilient investment option in various economic conditions [6][7]