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KKR closes maiden Asia Pacific Infrastructure Fund at $3.9 billion cap

KKR had first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. (File Photo: Reuters)Premium
KKR had first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. (File Photo: Reuters)

  • The fund has a broad investment mandate across both emerging and developed Asia Pacific, in sectors including waste, renewables, power and utilities, telecommunications, and transportation infrastructure

MUMBAI: US private equity investor KKR on Monday said it has achieved final close of $3.9 billion for its maiden infrastructure fund in Asia--KKR Asia Pacific Infrastructure Investors SCSp--focused on infrastructure-related investments across Asia Pacific.

In Asia, KKR has so far committed $1.8 billion across six investments as part of the its dedicated Asia Pacific infrastructure strategy, which was launched in 2019. KKR’s Asia Pacific infrastructure portfolio includes India Grid Trust, a publicly traded infrastructure investment trust, Virescent Infrastructure, a renewable energy company in India, Eco Solutions Group, an environmental services provider in South Korea, First Gen, a Philippines power producer, TSK Corporation, an environmental services management company in South Korea, and Pinnacle Towers, a telecommunications infrastructure provider in the Philippines.

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“We believe that Asia Pacific contains some of the most favorable macroeconomic dynamics in the world, and that the region is expected to account for more than half of the world’s economic growth in the coming years. However, the demand to develop or upgrade critical infrastructure assets outpaces the available public funding in many markets. Private capital is playing an increasingly important role to fill the gap in the region, and through our new fund, KKR is committed to investing in essential infrastructure solutions over a long-term horizon," said Ming Lu, head of KKR Asia Pacific.

The fund has a broad investment mandate across both emerging and developed Asia Pacific, in sectors including waste, renewables, power and utilities, telecommunications, and transportation infrastructure.

"The Fund, which was significantly oversubscribed and closed at its hard cap, received strong backing from a diverse group of prominent global infrastructure investors, including public and corporate pensions, sovereign wealth funds, insurance companies, endowments, private banking platforms, family offices, and high net worth individual investors," KKR said in a statement.

KKR had first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. Over this period, the firm has deployed more than $24 billion across approximately 40 infrastructure investments. It currently has a team of approximately 45 dedicated investment professionals.

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