KKR launches roads infrastructure investment trust in India

Kohlberg Kravis Roberts & Co. (KKR) has launched a roads infrastructure investment trust (InvIT) in India called Highways Infrastructure Trust (HIT).

The initial portfolio of KKR Highways Infrastructure Trust is made up of six roads assets having a total length of over 450km across six states. The assets are said to feature a mix of toll and annuity roads and are located in Gujarat, Meghalaya, Madhya Pradesh, Tamil Nadu, Rajasthan, and Telangana.

Additionally, the new KKR roads infrastructure investment trust will look to target a pipeline of acquisitions, including via its sponsor.

KKR launches roads infrastructure investment trust called Highways Infrastructure Trust in India. Photo courtesy of Yoshi1234567/Wikimedia Commons.

Hardik Shah — KKR Partner said: “HIT’s launch is a significant milestone for KKR’s India infrastructure strategy as we deepen our presence in the market. Highways and roads play a critical role in driving India’s economic prosperity and connecting its citizens, and we look forward to enabling further infrastructure creation and expansion as transportation demands continue to grow.

“With our dedicated platforms across transmissions, roads, and renewables in place, KKR is well-positioned to collaborate with sellers in the private markets and the government through the National Monetisation Pipeline on attractive investment opportunities.”

Highways Infrastructure Trust marks the third infrastructure investment trust for the global investment firm in India after Virescent Renewable Energy Trust and India Grid Trust.

The three infrastructure investment trust platforms of KKR in India put together operate and handle 33 assets valued at more than $3.8 billion and located across 22 states or union territories.