KKR, a giant global private equity based in the US, has closed a maiden $3.9 billion fund for Asia Pacific.
The new fund will be focused on investing in infrastructure across Asia-Pacific, with a broad mandate including sectors for waste, telecommunication, renewables, transportation infrastructure, power, and utilities.
"We are thrilled to announce the close of our inaugural Asian infrastructure fund, coming at this pivotal time for the infrastructure sector," said Ming Lu, KKR Asia Pacific Head.
At present, Asia-Pacific is expected to be accountable for over half of the economic growth globally, and the demand to develop infrastructure assets surpasses the available public funding.
Focusing on critical infrastructure with low volatility and strong downside protection, KKR believes that they can achieve attractive risk-adjusted returns through leverage on the global network of industry experts.
"The size of this fund and the caliber of our limited partners reflect the strength of both our Asia Pacific and infrastructure businesses, and speaks to our ability to deliver attractive, risk-adjusted returns to our investors through a careful investment approach," he added.
First established in 2008, KKR has become one of the most active investors in infrastructure worldwide.
The company has deployed more than US$24 billion for approximately 40 infrastructure investments to date.
It also currently houses a team of approximately 45 dedicated investment professionals.