US private equity firm Kohlberg Kravis Roberts & Co (KKR) has led a consortium that purchased a 30% stake International Far Eastern Leasing, a lender to small- and medium-sized enterprises (SMEs) for US$160 million, the Wall Street Journal reported. KKR’s partners in the deal are sovereign-wealth fund Government of Singapore Investment Corp and China International Capital Corp. KKR’s own investment is valued at US$100 million, according to people close to the deal. The money will help International Far Eastern to grow its loan book and take advantage of its strong position within China’s SME leasing industry. The investment marks KKR’s third China investment. The fund invested in Henan-based Tianrui Group Cement in 2007 and in dairy company Ma Anshan Modern Farming earlier this year.