The new investment and asset management platform integrates COAMI and COS Capital’s deal sourcing capability and China asset management expertise, and KKR’s investment experience and network across the world and in China.
The platform aims to focus on opportunities in China across a range of returns, the companies said.
Additionally, the platform is anticipated to offer long term value to their respective businesses and create investment opportunities for each other and their investors.
KKR co-head of Asia Pacific private equity and head of China David Liu said: "We are excited to enter into this innovative new partnership with COAMI and COS-Capital, which are experienced local partners that have track records in sourcing unique opportunities and active asset management.
"We look forward to working as a team to leverage our resources and provide both the necessary capital and the capabilities to our portfolio."
COS-Capital managing director, head of special situations Edward Han said: "The new joint venture offers an opportunity to build a scaled platform to provide flexible capital solutions, particularly in the real estate sector which is facing increased macro and funding challenges."
COAMI is wholly-owned by China Orient Asset Management Corporation (COAMC).
With total assets worth CNY366bn ($55.6bn), COAMC provides comprehensive financial services to over eight million clients through its city offices and subsidiaries nationwide.
COAMC is one of only four licensed national asset management companies and wholesalers of non-performing loans in China.
COS-Capital is a specialized investment management platform that focuses on management of both USD and RMB investments, onshore mezzanine financing and cross-border investments.