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KKR to fund Pan-Asia Media Investment Platform Emerald Media

N.Y. private-equity firm to invest up to $300 million

Henry_Kravis-George-Roberts-KKR COURTESY

 

Global investment firm KKR and The Chernin Group, LLC today announced a multi-faceted partnership that includes the creation of Emerald Media, a new vehicle to fund investments capitalizing on fast-growing opportunities in the media and entertainment industries across Asia.

KKR has committed up to $300 million to the Emerald Media platform from its KKR Asian Fund II and The Chernin Group will join as a minority co-investor.

KKR has also acquired a significant, minority stake in CA Media, the existing Asian media portfolio of The Chernin Group.

Leading industry veterans Rajesh Kamat and Paul Aiello will jointly head Emerald Media and will be joined by an experienced team of operating executives. Emerald Media will have offices in Mumbai, Hong Kong, and Singapore. Messrs. Kamat and Aiello will continue to manage the CA Media platform, which includes assets in India (Endemol Shine India, Graphic India, Fluence, and Only Much Louder) and in Indonesia.

Emerald Media will focus primarily on providing growth capital ranging from $15 million-$75 million for both control and significant minority positions to media, entertainment, and digital media businesses in Asia.

Kamat and Aiello will continue to manage the CA Media unit, which includes assets in India (Endemol Shine India, Graphic India, Fluence, and Only Much Louder) and in Indonesia.

“The growing middle class in the region is using its discretionary income on Internet connectivity, but the industry itself is fragmented. Investing behind proven leaders in industries with high growth potential and partnering with them to grow their business is a cornerstone of KKR’s Asia strategy, ” said Joseph Y. Bae, managing partner of KKR Asia.

“The media, entertainment and digital media segment across Asia especially in India enjoys attractive macro fundamentals, mirroring the trajectory of the region’s consumer sector, ” said Sanjay Nayar, CEO of KKR India.

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