Oregon Investment Council, the state council of Oregon, US, has committed a $225 million investment to an Asia-focused fund as part of an income generating effort for state projects. 

The KKR Asian Fund II is its second fund set up with Kohlberg Kravis Roberts, which manages some $3 billion of Oregon's $57 billion pension fund investments. KKR is the key manager in the state's $13.7 billion private equity portfolio, which covers 190 separate funds run by individual managers. 

The decision to tap KKR again came following the success of the first KKR fund, where the council was an investor. The said fund posted net returns of 19 per cent. The focus of the second fund will be on consumer goods, manufacturing, healthcare and infrastructure. KKR expects to raise around $6 billion this time.

"The council is looking for the best opportunities for Oregon, no matter where they are, to benefit Oregonians," said Keith Larson, chairman of the Oregon Investment Council.

KKR has six offices in Asia and is set to open its seventh this year in Singapore.