KKR raises $3.9 bn for Asia infra fund
ECONOMY & POLICY

KKR raises $3.9 bn for Asia infra fund

American global investment firm KKR & Co raised $3.9 billion for its first Asia-Pacific infrastructure fund, surpassing the largest pool of cash in the region for investments in everything from renewable energy and waste management to communication towers.

In the fundraising process, the firm boosted its initial target from $3 billion and stopped fundraising after reaching the stipulated cap. It tapped three dozen investors in Europe, USA, the Middle-East and Asia-Pacific, said the company.

Institutional investors are looking rapidly for a "one-stop-shop" with deal-making, operational and capital market expertise, favouring assets with a lower-risk profile that aren't tied to public market indexes, said KKR.

KKR established its global infrastructure team and strategy in 2008 and has invested more than $24 billion in about 40 assets around the world since then. It hired David Luboff from Macquarie Group in 2019 to build a platform in Asia, where it now has a 14-member team with plans to add more in Japan.

The firm has already committed over $1.8 billion in six infrastructure investments in Asia, which added to investor confidence and led to a "considerably shorter" fundraising, Luboff told media sources.

Those investments include renewable energy company Virescent Infrastructure and India Grid Trust in India, two waste management companies in South Korea and First Gen Corp and Pinnacle Towers, the leading power producer and a telecommunication provider in the Philippines.

Global private equity firms are moving away from focusing on buyouts towards becoming investment houses with widened offerings in alternative assets such as real estate and infrastructure.

KKR will concentrate on big themes including green energy, mitigating environmental damage and environmental infrastructure, Luboff said.

Image Source

American global investment firm KKR & Co raised $3.9 billion for its first Asia-Pacific infrastructure fund, surpassing the largest pool of cash in the region for investments in everything from renewable energy and waste management to communication towers. In the fundraising process, the firm boosted its initial target from $3 billion and stopped fundraising after reaching the stipulated cap. It tapped three dozen investors in Europe, USA, the Middle-East and Asia-Pacific, said the company. Institutional investors are looking rapidly for a one-stop-shop with deal-making, operational and capital market expertise, favouring assets with a lower-risk profile that aren't tied to public market indexes, said KKR. KKR established its global infrastructure team and strategy in 2008 and has invested more than $24 billion in about 40 assets around the world since then. It hired David Luboff from Macquarie Group in 2019 to build a platform in Asia, where it now has a 14-member team with plans to add more in Japan. The firm has already committed over $1.8 billion in six infrastructure investments in Asia, which added to investor confidence and led to a considerably shorter fundraising, Luboff told media sources. Those investments include renewable energy company Virescent Infrastructure and India Grid Trust in India, two waste management companies in South Korea and First Gen Corp and Pinnacle Towers, the leading power producer and a telecommunication provider in the Philippines. Global private equity firms are moving away from focusing on buyouts towards becoming investment houses with widened offerings in alternative assets such as real estate and infrastructure. KKR will concentrate on big themes including green energy, mitigating environmental damage and environmental infrastructure, Luboff said. Image Source

Next Story
Infrastructure Energy

Greaves Electric Mobility Files for IPO

Electric-vehicle manufacturer Greaves Electric Mobility has announced plans to raise Rs 10 billion through an initial public offering (IPO), as stated in its draft papers filed. The company, recognised for its 'Ampere' brand of electric scooters, also produces three-wheelers under a separate brand. Greaves Electric’s major shareholders, Greaves Cotton—a publicly listed entity—and investment firm Abdul Latif Jameel Green Mobility Solutions, will collectively sell approximately 189.4 million shares through the IPO. This move positions Greaves Electric alongside larger competitor Ather En..

Next Story
Infrastructure Energy

IREDA Approves Rs 30 Billion for Odisha's Renewable Energy Projects

Indian Renewable Energy Development Agency (IREDA) has approved funding exceeding Rs 30 billion for renewable energy projects in Odisha as the state strives to achieve its goal of 10 GW capacity by 2030. Pradip Kumar Das, Chairman and Managing Director of IREDA, shared this update during the Odisha Solar Investor Conclave organised by GRIDCO. He emphasised that accessible financing is crucial to fostering the adoption of renewable energy. Das outlined IREDA's significant contributions to funding renewable energy projects in Odisha, spanning sectors such as solar, hydro, ethanol, and renewable..

Next Story
Infrastructure Energy

Oil Prices Rise Amid Light Pre-Christmas Trading

Oil prices edged higher during light trading ahead of the Christmas Day holiday. The increase was attributed to positive US economic data and growing oil demand in India, the third-largest importer of oil globally. Brent crude futures rose by 33 cents, or 0.45 per cent, to reach $72.95 per barrel, while US West Texas Intermediate (WTI) crude futures gained 29 cents, or 0.42 per cent, settling at $69.53 per barrel as of 0114 GMT. Economic indicators in the United States highlighted a surge in new orders for key manufactured capital goods in November, driven by robust demand for machinery. Add..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000