Kohlberg Kravis Roberts, the US buyout firm, has teamed up with two Chinese asset managers to invest in credit and distressed opportunities in the country, mirroring a similar move by rival firm Oaktree Capital Management as the world’s second-largest economy slows.

KKR said on January 21 it has formed a strategic partnership with China Orient Asset Management International and the investment manager China Orient Summit Capital to co-invest in credit and distressed opportunities in China, as well as to "explore strategic initiatives for broader collaboration".