KKR & Co. announced a final close for the New York-based alternatives investment firm's first Asia-Pacific infrastructure fund, at $3.9 billion.
A KKR news release Monday said the company's Asia Pacific Infrastructure Investors fund is the largest pan-regional infrastructure fund ever raised for the region. Macquarie Infrastructure and Real Assets raised a $3.3 billion infrastructure fund for APAC in 2018.
KKR will invest roughly $300 million alongside external investors.
A spokeswoman for the firm said KKR started taking commitments for the fund from June 2019. In December 2019, the $28.3 billion Texas Employees Retirement System, Austin, committed $100 million to the fund.
The fund will "focus on critical infrastructure with low volatility and strong downside protection," eyeing sectors that include waste, renewables, power and utilities, telecommunications and transportation infrastructure, the release said.