KKR is buying highway assets in India from Global Infrastructure Partners for an undisclosed sum.
The global investment firm said its KKR Asia Pacific Infrastructure Fund has agreed to buy GIP’s entire interest in Highway Concessions One (HC1) and seven highway assets with a total length of 487km.
HC1 manages GIP’s road portfolio which spans seven states including Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana.
KKR said the latest investment is the fund’s third investment and the manager’s first investment in Asia’s transport sector.
Hardik Shah, managing director and head of India infrastructure at KKR, said: “Roads are one of the largest and most crucial infrastructure assets in India, where the world’s second-largest road network is located. Rapidly increasing passenger and commercial vehicle traffic has driven the strong demand to expand the country’s road network even further and the reciprocal need for investment in the sector.
“This is why the transportation sector is a key area of our infrastructure strategy in India. We are truly excited to invest in a high-quality platform and through HC1 play a part in India’s transport infrastructure.”
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