Global private equity group KKR & Co has raised almost $1.5 billion, 50% of its $3 billion target on its first Asia-focused infrastructure fund, according to a source knowledgeable with the matter. KKR launched its fundraising this year but began targeting Asia’s infrastructure sector one year ago.
The source asked not to be identified as the information is not yet public. KKR also declined to comment.
The KKR fundraising is among the many private equity firms move to shift from pure focus on buyouts to all-round investment houses with a number of assets. These assets include real estate, infrastructure, credit, and hedge funds.
A dozen people from KKR are focused on infrastructure in Asia, according to the information given by the source. It’s first investment was a $400 million deal that will gain them control of India Grid Trust (IndiGrid).
Separately, KKR has begun to raise its fourth Asian private equity fund, which is aimed to be worth $15 billion.
Moreover, the firm has also been raising a $1.5 billion real estate fund for Asia.