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KKR’s Most Senior China Execs Jump Ship To Form Their Own Fund

KKR is one of the largest private equity investors in Asia, and it’s about to have some added competition—two of the firm’s most senior executives are leaving to start their own fund.

David Liu, head of China and co-head of Asia private equity, is moving out with Julian Wolhardt, one of the firm’s partners, at the end of the year to form their own China-centered investment firm, Bloomberg reports. The departure is bad news for KKR—it's losing its two most senior China execs and two decades worth of local investment experience.

The move comes just as KKR plans the launch its third Asian fund, which could raise up to $7B and is likely to be ready by the end of the year. [Bloomberg]