Private investment major KKR & Co (KKR) has held the final close of KKR Asia Pacific Infrastructure Investors II with $6.4bn in capital commitments, making it the largest ever fund focused on Asia Pacific infrastructure-related investments.
The close follows KKR’s inaugural Asia Pacific-dedicated infrastructure fund, KKR Asia Pacific Infrastructure Investors SCSp, which closed at $3.9bn in 2021 as the largest Asia-dedicated pan-regional fund at the time. Since the fund’s launch, KKR has already invested or committed more than half of its capital across approximately 10 investments.
KKR’s Asia Pacific infrastructure platform has organically grown to approximately $13bn in AUM since its inception in 2019.
According to a press statement, the new fund will focus on “critical infrastructure with low volatility and strong downside protection” where the firm believes it can “add value and achieve attractive risk-adjusted returns by leveraging its global network of industry experts, its highly experienced team in the APAC region and long track record of operational value creation.
The fund has a broad investment mandate across various sectors, including renewables, power and utilities, water and wastewater, digital infrastructure and transportation, among others.
The fund received strong backing from a diverse group of new and existing prominent global investors across the world, including public and corporate pensions, sovereign wealth funds, insurance companies, endowment funds and asset managers.
Debevoise & Plimpton represented KKR as primary fund counsel for this fundraise.
