Chernin Group Partners With KKR to Launch Emerald Media in Asia

KKR has committed up to $300 million to new-media platform headed by Rajesh Kamat and Paul Aiello, Chernin will join as a minority co-investor

The Chernin Group/KKR

Global investment firm KKR and The Chernin Group, LLC are partnering to create Emerald Media, a new vehicle to fund investments capitalizing on fast-growing opportunities in the media and entertainment industries across Asia.

KKR has committed up to $300 million to the platform from its KKR Asian Fund II and The Chernin Group will join as a minority co-investor, according to an announcement Monday. KKR has also acquired a significant minority stake in CA Media, the existing Asian media portfolio of The Chernin Group.

Rajesh Kamat and Paul Aiello will jointly head Emerald Media, which will have offices in Mumbai, Hong Kong, and Singapore. The industry veterans will also continue to manage the CA Media platform, which includes assets in India (Endemol Shine India, Graphic India, Fluence, and Only Much Louder) and in Indonesia.

Emerald Media will focus primarily on providing growth capital ranging from $15 million-$75 million for both control and significant minority positions to media, entertainment, and digital media businesses in Asia.

“The media and entertainment sector is on the cusp of a strong growth phase–driven by media convergence, an attractive investment environment, and rising discretionary spends,” Kamat said. “With the building blocks for growth in place, there is a significant opportunity to create a diversified portfolio of assets in this space, building on our accomplishments and ongoing work with CA Media and The Chernin Group.”