KKR(US:KKR) 中国基金报·2026-01-21 14:45Core Viewpoint - KKR has announced an additional investment in Sylvan, a leading mushroom cultivation and fungal biotechnology company, through its managed USD and RMB funds, marking a continued commitment to support the company's expansion plans [2][7]. Group 1: Company Background - Sylvan is backed by Jiangsu Yuguan Modern Agricultural Technology Co., founded by Huang Jianguang, known as the "Mushroom King" in China [3]. - Huang Jianguang started his mushroom business in the 1980s, leading to his company becoming a major player in the canned mushroom market, with 68% of canned mushrooms exported from China being produced by his enterprise [5]. - In 2010, Jiangsu Yuguan began cultivating high-quality fresh white mushrooms, which account for approximately 40% of the edible mushroom market globally [6]. Group 2: Investment Details - KKR's initial investment in Jiangsu Yuguan was approximately RMB 2 billion in 2018, which helped the company become the largest single production unit for white mushrooms globally, generating revenues of RMB 500 million [6]. - The recent investment round was led by KKR and included participation from several global investors, such as TPG NewQuest, Ping An Capital, and Schroders Capital [6][7]. Group 3: Market and Growth Potential - The new investment will support Sylvan's plans to enhance production capacity, strengthen R&D capabilities, and expand into high-growth product lines, particularly in the rapidly industrializing mushroom and bioproduct markets in Asia [7]. - KKR's assets under management (AUM) reached USD 723 billion (approximately RMB 5 trillion) as of September 30, 2025, indicating its significant presence in private equity and credit markets [9].