New York State backs China-focused KKR spinout for $25 mln

David Liu, Julian Wolhardt, New York State Common Retirement Fund, KKR, private equity, pension fund
U.S. 100 dollar banknotes and Chinese 100 yuan banknotes are seen in this picture illustration in Beijing, China, January 21, 2016. REUTERS/Jason Lee/Illustration/File Photo
New York State Common Retirement Fund committed $25 million to a new China-focused vehicle managed by two former Kohlberg Kravis Roberts & Co executives. David Liu and Julian Wolhardt left KKR at the end of 2016 to launch Dehong Capital, which ...

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