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KKR raises $3.1b for second global infrastructure fund

  • Holden Mann
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KKR has announced the final close of its KKR Global Infrastructure Investors II fund at $3.1 billion. The fund will invest in infrastructure opportunities, with an emphasis on OECD member countries.

According to a statement, the final closing amount represents the hard cap on the fund. New and existing investors participated in the fundraise, including pensions, sovereign wealth funds, insurance firms, foundations and asset managers.

KKR launched the fund in 2014, following on its previous infrastructure fund, which launched in 2008 and closed in 2012 at $1 billion. The firm's global infrastructure assets under management currently total $5.6 billion, with another $1 billion in infrastructure co-investments.

KKR plans to direct its funds to projects in the energy supply chain, water systems, transportation and communication networks. Opportunities for investment in the infrastructure space are expected to increase as governments seek to scale back their spending and banks adapt to increased capital holding requirements.

The firm's recent investments in Asian infrastructure include a INR10 billion ($164 million) commitment to India's GMR Infrastructure last year, though the new fund's focus on OECD members means its resources will not be available to India. However, Australia, Japan and South Korea will be eligible for investment through their membership.

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