U.S. investment powerhouse KKR closes Asia Pacific infrastructure fund at $3.9 billion

On Monday, KKR & Co, a U.S.-based investment powerhouse stated, it has closed a fund targeting infrastructure-related investments in Asia Pacific at $3.9 billion.

In a press release KKR said, the fund was its first in the region for the sector; following its closure it has become the largest pan-regional infrastructure fund for Asia Pacific region.

Along with external investors, KKR has invested around $300 million in the fund through its balance sheet and employee commitments.

Although KKR first established its global infrastructure team in 2008, it entered Asia only after 11 years after poaching David Luboff, the then CEO of Macquarie Group’s Asia Infrastructure Fund, to build its Asia team. Later that year, it launched the fundraising.

KKR’s fund has committed US$1.8 billion across six investments in the infrastructure sector, including a near $400 million acquisition of a controlling stake in India Grid Trust, India’s leading infrastructure investment trust and a $192 million purchase of a minor stake in First Gen, a leading Philippines power producer.

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