KKR on road to raise third and largest Asia infrastructure fund: Report

Global private equity giant KKR is said to be raising its third and largest Asia infrastructure fund, with a targeted corpus exceeding $9 billion.

According to a Mint report, the firm has already secured commitments for the fund’s first close and could make an announcement soon.

India is anticipated to receive a significant portion of the investments, potentially accounting for up to 30% of the total corpus, consistent with allocations from KKR’s previous Asia infrastructure funds, Mint stated.

Earlier, KKR amassed $3.9 billion for its first Asia infrastructure fund in 2021. Subsequently, it raised $6.4 billion for its second fund in the category in 2024.

The fundraises show that the firm aligns with India’s expanding infrastructure needs in sectors such as roads, energy, and logistics.

KKR, which has $500 billion in assets under management as of 2024, is positioning itself as a major foreign investor in India’s growth story. Its investments in the infrastructure sector include IndiGrid Infrastructure Trust and Hero Future Energies, among others.

Among other global investors focusing on the sector include prominent names such as Blackstone and Brookfield.

Hardik Shah, who joined KKR in 2018, heads the firm’s infrastructure strategy across Asia.

Edited by: Joymitra Rai

More information: https://www.dealstreetasia.com/stories/kkr-asia-infrastructure-fund-443716