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鈥檚 entire interest in Highway Concessions One (HC1) and seven highway assets with a total length of 487km.
HC1 manages GIP鈥檚 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鈥檚 third investment and the manager鈥檚 first investment in Asia鈥檚 transport sector.
Hardik Shah, managing director and head of India infrastructure at KKR, said: 鈥淩oads are one of the largest and most crucial infrastructure assets in India, where the world鈥檚 second-largest road network is located. Rapidly increasing passenger and commercial vehicle traffic has driven the strong demand to expand the country鈥檚 road network even further and the reciprocal need for investment in the sector.
鈥淭his 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鈥檚 transport infrastructure.鈥�
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