KKR to Invest in Chinese Lender

NEW YORK (

TheStreet

) -- A consortium led by

Kohlberg Kravis Roberts

is expected to announce a $160 million investment in a Chinese lender to small and medium-size businesses, the

Wall Street Journal

reports.

KKR, alongside sovereign wealth fund Government of Singapore Investment and Chinese investment bank China International Capital, has taken a 30% stake in International Far Eastern Leasing, which is backed by state-owned conglomerate

Sinochem

. Sinochem owns the remaining majority stake in the company.

KKR's portion of the investment is about $100 million, the

Journal

reports.

The deal is the third since the private-equity firm opened its Asia office in 2005 in China.