Investment firms KKR, Chernin Group Collaborate in Asian Expansion

Investment firms KKR and The Chernin Group are to join forces in expanding their portfolio of media assets in Asia. Together with They will also launch new investment vehicle Emerald Media.

KKR is committing up to $300 million to the Emerald Media platform from its KKR Asian Fund II. The Chernin Group will join as a minority co-investor. Industry veterans Rajesh Kamat and Paul Aiello will jointly head Emerald Media.

With offices in Mumbai, Hong Kong, and Singapore, Emerald Media will focus primarily on providing growth capital ranging from US$15 million — US$75 million for both control and significant minority positions in media, entertainment, and digital media businesses in Asia.

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

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