The renowned investment house is reportedly thinking of breaking new ground for sheer size with a third Asia buyout fund.

Alternative asset manager KKR & Co, renowned in sectors such as private equity buyouts, is reportedly considering a record $9 billion target for a fund focused on Asia.

The firm is considering the target for its third Asia-dedicated buyout fund, Bloomberg reported, quoting unnamed sources.

The US-headquartered firm is in early talks with investors about raising the pool in 2017. The target figure is predicated on the strong deal flow KKR executives believe is likely to materialise in the region over the next five years, the news service said.

In recent months, KKR executives have referred to Asian markets as important for future returns and business. 

KKR reportedly declined to comment on the matter.

A year ago, Bain & Co said of the Asia private equity sector: “Private equity in the vibrant Asia-Pacific region finally began to reward investor patience in 2014 as the market broke out of a sobering two-year slump and posted its best across-the-board performance to date. The industry continues to move through a difficult multi-year transition as PE firms strive to clean up portfolios and build sustainable performance. But a number of important developments over the past year signal the market may be reaching a critical turning point.”