KKR to buy majority stake in Leap India in Asia infra push

In May, KKR made an additional investment of about $250 million in Serentica Renewables

- Priyal Mahtta

KKR & Co. on Wednesday said it has agreed to buy a majority stake in logistics solutions company Leap India, a move that will deepen the US private equity firm’s presence in Asia’s infrastructure space.

The transaction will also bolster KKR’s infrastructure bets in India that include investments in a decarbonization platform, renewable energy companies, and highways and power transmission businesses.

The deal is likely to close by the end of this quarter, according to KKR. The PE firm didn’t disclose financial details of the transaction.

The deal is also likely to allow an exit to at least some of Leap’s existing investors although neither the company nor KKR provided any such details.

An email query sent to Leap India didn’t elicit a response until the time of publishing this report. A spokesperson for KKR said Leap founder Sunu Mathew will remain an investor in the company but declined to comment on exits by other shareholders.