KKR partly tokenises new US$4b tech fund on Singapore's ADDX

PRIVATE equity giant KKR is targeting US$4 billion for its third technology fund and plans to raise a small portion through Singapore-based private market platform ADDX, according to documents obtained by The Business Times (BT).

KKR, which oversees US$471 billion in assets, is part of an increasing number of players expanding their reach through alternative channels as they double down on the private wealth space.

With the tokenisation on ADDX, accredited investors can access KKR's Next Generation Technology Growth Fund III (NGT III) with a minimum of US$20,000, the documents said – a fraction of the usual US$250,000 or so that high net worth investors typically would need to commit to get an allocation on standard PE funds.