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HONG KONG (Reuters) - Private equity firm KKR & Co LP, search engine Baidu Inc and hedge fund Coatue said on Wednesday they will jointly invest $170 million (115 million pounds) in Chinese online used-car auction firm Uxin, aiming for a piece of the booming used-car market. Uxin will use the funds to expand a newly launched platform where auto retailers sell used cars to individuals, the companies said in a joint statement. China, the world's second-largest economy, had 368 billion yuan (40 billion pounds) worth of transactions in the used-car market in 2014, up 26 percent from the previous year, the statement said, citing figures from the China Automobile Dealers Association. (Reporting by Elzio Barreto; Editing by Muralikumar Anantharaman)