The oversubscribed vehicle for portfolio company Imaging Associates reportedly includes a simultaneous merger with an industry peer.
The multi-strategy investment firm is reportedly considering a $350-400 million CV for four portfolio companies.
The oversubscribed vehicle rolled over a portfolio of investments made between 2015 and 2021.
The vehicle will acquire New Zealand's largest egg supplier from the firm's 2013-vintage LBO fund, Navis Asia Fund VII.
Anchored by a stake in TikTok parent ByteDance, the multi-asset CV reportedly drew backing from Abu Dhabi's Lunate, among others.
In parallel, the firm's stakes in industrial gas supplier AirFirst will reportedly move into the open-ended fund via a continuation fund structure.
The oversubscribed vehicle received additional participation from CSSC Insurance, Wuxi Venture Capital, Boyuan Capital, and Huikai Investment.
The reported deal would hold eight healthcare investments from the $1.9 trillion asset manager's portfolio.
TPG NewQuest also served as lead investor alongside KKR in the GP-led transaction, which supported the fungal biotech company's continued growth.
The Chinese technology giant is reportedly expected to have a valuation of at least $350 billion.
