KKR has closed its second global infrastructure fund, raising $3.1bn (€2.8bn).
The investment manager said its Global Infrastructure Investors II vehicle received “strong backing from a diverse group of new and existing global investors”.
Public and corporate pension funds, asset managers, sovereign wealth funds, insurance companies and foundations backed the fund.
The fund will invest in the energy supply chain, water systems, roads, railways, airports, and communications networks.
“A decrease in public funding and weakened economic conditions in many regions are driving tremendous global demand for private investments in infrastructure,” said Marc Lipschultz, global head of KKR’s energy and infrastructure business.
KKR said it has around $5.6bn in infrastructure assets under management and has deployed around $1bn through infrastructure co-investments.
Recent infrastructure investments in wastewater systems in New Jersey and Pennsylvania. Earlier this year, Brandon Freiman, director at KKR, told IP Real Estate that its public-private partnership with United Water helped bring about a credit-rating upgrade for the city of Bayonne in New Jersey.
