KKR, an internationally active investor, recently announced the final closing of KKR Global Infrastructure Investors V. With a total volume of US$19.2 billion, this fund represents the largest infrastructure fund KKR has ever launched. As a Core+ fund and the fifth vintage within KKR's global infrastructure strategy, it focuses on investments in critical infrastructure assets and companies in North America and Western Europe.
This latest fund increases the capital raised across the current vintages of KKR's infrastructure platform worldwide to over US$45 billion. KKR's infrastructure strategy, established in 2008, has developed into one of the leading global platforms. Today, the company manages approximately US$120 billion in infrastructure capital, a significant increase from US$13 billion in 2019. The platform has made over 100 infrastructure investments and has a team of around 160 dedicated infrastructure experts.
Fund Strategy and Focus
Raj Agrawal, Global Head of Real Assets at KKR, commented on the platform's founding in 2008, emphasising the disciplined investment approach, operational expertise, and proven value creation in essential assets. Fund V builds on this long-standing experience and focuses on diversified infrastructure projects designed to provide critical services, benefit from high barriers to entry, and generate sustainable long-term cash flows. The fund has already committed over US$9 billion to companies that align with this approach.
- —Altitude III
- —EDF Power Solutions North America
- —Enilive
- —FiberCop
- —Global Technical Realty
- —Gulf Data Hub
- —Metronet
- —Sempra Infrastructure
- —The Parking Spot
In total, KKR has so far invested over US$70 billion of equity in its global infrastructure strategy in North America and Europe. Brandon Freiman, Head of North American Infrastructure at KKR, highlighted the growing demand for infrastructure investments in North America, driven by digitisation, electrification, and industrial growth. He emphasised KKR's position to meet this demand.
European Perspective and Investor Base
Vincent Policard, Co-Head of European Infrastructure at KKR, stressed the importance of investments in critical infrastructure in Europe to strengthen competitiveness, energy security, and economic resilience. He referred to KKR's local presence, global network, and long-term approach to supporting companies and public stakeholders during this growth phase. The fund was supported by a broad, globally diversified investor base, including pension funds, sovereign wealth funds, insurance companies, asset managers, private wealth platforms, and family offices. Brandon Donnenfeld, Managing Director and Chief Development Officer of KKR's infrastructure business, thanked the investors and interpreted the result as a validation of the investment approach and the increasing recognition of infrastructure as a long-term asset class. Debevoise & Plimpton LLP served as primary legal counsel for KKR during the fundraising process.
