KKR Backs China Outfitters

Global private equity firm KKR is to invest $60 million as a cornerstone investor in the Hong Kong initial public offering of China men’s casual wear retailer China Outfitters Holdings. China Outfitters designs, makes and sells menswear in China. Its foreign brands include JEEP, Santa Barbara, Polo & Racquet Club and London Fog. The company has over 1,000 stores nationwide, writes Reuters.

(Reuters) – Global private equity firm KKR & Co L.P. said on Monday that it would invest $60 million as a cornerstone investor in the Hong Kong initial public offering of China men’s casual wear retailer China Outfitters Holdings Ltd.

“The menswear market in China has enormous growth potential. Market leaders such as China Outfitters have significant room to increase market share,” David Liu, CEO of KKR Greater China said.

Private equity firms are increasingly providing pre-IPO financing, an area hedge funds previously dominated in Asia prior to the 2008 financial crisis.

China Outfitters designs, makes and sells menswear in China. Its foreign brands include JEEP, Santa Barbara, Polo & Racquet Club and London Fog. The company has over 1,000 stores nationwide.

KKR was among three private equity investors who committed three quarters of the $145 million IPO of China Outfitters, IFR, a Thomson Reuters publication, reported last week. .

A private equity fund of Everbright China and Sequoia Capital China committed $25 million each to China Outfitters prior to the IPO.