KKR partners Chernin Group to launch Emerald Media in Asia

Private equity firm KKR has partnered California-based media holding company Chernin Group to launch Emerald Media, a platform to fund investments in the media and entertainment industries across Asia.
"KKR has committed up to USD 300 million to the Emerald Media platform from its KKR Asian Fund II and Chernin Group will join as a minority co-investor," the companies said in a joint statement.
KKR has also acquired a significant, minority stake in CA Media, the existing Asian media portfolio of Chernin Group.
"Emerald Media will focus primarily on providing growth capital ranging from USD 15 million to USD 75 million for both control and significant minority positions to media, entertainment and digital media businesses in Asia," it said.

Rajesh Kamat and Paul Aiello will jointly head Emerald Media and the new venture will have offices in Mumbai, Hong Kong and Singapore.
Aiello is the group Chief Executive Officer of CA Media, while Kamat is the Chief Operating Officer of CA Media.

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 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 them to grow their business is a cornerstone of KKR Asia strategy," KKR Asia Managing Partner and Member of KKR Joseph Bae said.

KKR India CEO and Member of KKR Sanjay Nayar added, "the media, entertainment and digital media segment across Asia, specially in India enjoys attractive macro fundamentals, mirroring the trajectory of the region's consumer sector. This is a fragmented industry, and we are excited to work with industry veterans to identify the next generation of media and entertainment companies we can partner with and support."
Chernin Group has built, managed, operated and invested in businesses in the media, entertainment and technology sectors around the world since 2010.
"This partnership provides Chernin Group and its fellow investors in CA Media with a unique opportunity to continue to work with a best in class management team and leading global investors at KKR in Asia," Chernin Group Chairman and CEO Peter Chernin said.