KKR India, the private equity arm of global investment firm KKR & Co., is moving its office from Mumbai to Singapore, according to a report from Reuters. The move is part of KKR’s plan to boost its presence in Southeast Asia, which is seen as a key growth market for the firm.
Prashant Kumar, a managing director at KKR India, will be relocating to Singapore to head the firm’s Southeast Asia private equity business. Kumar has been with KKR India since 2018 and has worked on investments in a number of Indian companies, including deodorant-maker Vini Cosmetics and drug-maker JB Chemicals.
In a statement, KKR said that the move to Singapore would “allow us to better serve our clients and partners in Southeast Asia, which is a dynamic and growing market.” The firm said that it would continue to have a presence in Mumbai, as well as in other cities in India.
KKR is not the only global investment firm that is expanding its presence in Southeast Asia. In recent years, there has been a surge of investment activity in the region, as investors have been attracted to its strong economic growth and rising middle class.
According to a report from the Boston Consulting Group, Southeast Asia’s private equity market is expected to grow to $100 billion by 2025. This growth is being driven by a number of factors, including the region’s growing digital economy, rising consumer spending, and increasing infrastructure investment.
KKR’s move to Singapore is a sign that the firm is betting on the continued growth of Southeast Asia. The firm’s decision to relocate its India office to Singapore is also a reflection of the increasing integration of the two markets. As the economies of India and Southeast Asia become more closely connected, we can expect to see more investment activity between the two regions.
