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KKR, Chernin launch Asian JV

Global investment firm Kohlberg Kravis Roberts (KKR) has partnered with The Chernin Group to launch new investment vehicle Emerald Media.

KKR has committed up to US$300m to the Emerald Media platform from its KKR Asian Fund II, while US-based The Chernin Group will join as a minority co-investor.

Emerald Media will focus primarily on providing growth capital ranging from US$15m to US$75m, for both control and significant minority positions to media, entertainment and digital media businesses in Asia.

Industry veterans Rajesh Kamat and Paul Aiello will jointly lead the JV, which will have offices in Mumbai, Hong Kong and Singapore.

In addition, 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 platform, which includes assets in India (Endemol Shine India, Graphic India, Fluence, and Only Much Louder) and in Indonesia.

Aiello is the current group CEO of CA Media, the former CEO of News Corp’s Star TV Asia, and former head of TMT investment banking at Morgan Stanley Asia.

Kamat is currently the group chief operating officer of CA Media and held the same role at Viacom18 Group.

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