India to get big slice in KKR's Asia infra fund

Private equity giant Kohlberg Kravis Roberts (KKR) is raising its third and largest-ever Asia infrastructure fund that could top $9 billion, said three people familiar with the matter, with a large share going to India's expanding road and energy to logistics networks.

- Mansi Verma & Dipti Sharma

MUMBAI:

"The firm has already secured commitments for a first close for the new fund from its limited partners and is expected to announce it soon," said the first of the three people, who spoke on the condition of anonymity. "While the final fund size is yet to be confirmed as fundraising continues, it remains in the $9 billion range, with India a key market, consistent with the previous funds."

The new fund surpasses the debut Asia fund of $3.9 billion and the $6.4 billion fund II that closed last year. As much as 30% of the corpus could be allocated to Indian infrastructure, the people said. The country accounted for 25-30% of KKR's first two Asia funds.