SINGAPORE (Reuters – The inaugural Asia credit fund, which offers debt financing to businesses in the United States, has been funded by KKR.

KKR stated Wednesday that the Asia Credit Opportunities Fund saw its closing. It is the first pan-regional, inaugural credit fund raised in Asia Pacific.

Ming Lu (KKR Asia Pacific Head) said that Asia is benefiting from favourable macroeconomic trend and long-term economic growth, but there were few financing options for companies who wanted to keep up with the rapid pace of this growth.

Lu stated in the statement that “we believe these dynamics offer an attractive landscape for alternate asset managers such as KKR, who can provide more flexible credit solutions than traditional lenders.”