KKR’s Asia Pacific Infrastructure Fund has agreed to buy Japanese chemical storage tank operator Central Tank Terminal (CTT) from Macquarie Asset Management for an undisclosed amount.
CTT is Japan’s largest independent chemical storage tank operator, offering over 300,000mᶟ of storage capacity across seven terminals located near key ports and strategic hubs around Tokyo Bay, Osaka Bay, Nagoya and Kitakyushu.
Hiro Hirano, partner for KKR Asia-Pacific and CEO of KKR Japan, said the deal marks KKR’s ”first infrastructure investment in Japan with a leading business like CTT”.
KKR already has several investments in Japan from its private equity strategy. These include Seiyu, a nationwide supermarket chain.
Taka Hirayama, a director on KKR’s Infrastructure team based in Tokyo, said: “Under the leadership of CEO Miyakawa, CTT has established itself as one of the top operators in Japan’s tank storage sector, and forged a strong culture of responsible safety and environment management.”
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