Partnership with Singapore's GIC addresses long-term capital needs
MUMBAI, India--(BUSINESS WIRE)--
KKR, a leading global investment firm, today announced it has
established a non-banking financial company ("NBFC") that will provide
structured credit solutions to the real estate sector in India, with an
investment from GIC, Singapore's sovereign wealth fund.
"The launch of the India-focused NBFC marks a milestone for our global
real estate platform, and we are thrilled to bring long-term capital to
India's real estate sector," said Ralph Rosenberg, Global Head of KKR
Real Estate. "We are excited to assist a sector that is still
under-built. While many lenders provide debt to this sector, there is a
need for solution-oriented, non-dilutive capital for property
developers. We intend to fill that gap and contribute to the continued
development of India's residential and commercial real estate sectors."
This is KKR's second NBFC in India. Through its first, KKR expanded its
capabilities to provide solutions across the capital structure. KKR has
seen that India's large and growing business community welcomes
non-traditional entities that allow companies to tap into a more
sophisticated capital markets system and provide them with greater
choice beyond traditional equity or bank loans. Since 2009, KKR has
extended more than US$2 billion of structured financing to 21 business
groups in India through its credit and capital markets business.
"This sector-focused NBFC further enables KKR to provide tailored
financing solutions to companies, and adds to our established private
equity and lending businesses in India," said Sanjay Nayar, CEO of KKR
India. "We aim to provide companies with value beyond capital alone in a
way that is best suited to their needs. This real estate NBFC is our
newest platform to achieve our goal in supporting good management teams
to help their companies grow."
During 2014, KKR initiated the real estate business in India by
structuring and participating in three transactions with an aggregate
amount of approximately US$190 million.
In private equity, KKR has been active in India since 2006, with total
equity investments exceeding US$1.5 billion.
Since launching a dedicated real estate platform in 2011, KKR has
committed over US$1.8 billion of equity to 29 real estate transactions
in the US, Europe and Asia.
KKR is a leading global investment firm that manages investments across
multiple asset classes including private equity, energy, infrastructure,
real estate, credit and hedge funds. KKR aims to generate attractive
investment returns by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation at the asset level. KKR invests its own capital alongside its
partners' capital and brings opportunities to others through its capital
markets business. References to KKR's investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. L.P. (NYSE:KKR), please visit KKR's website at www.kkr.com.
KKR has been an active investor in India since 2006, with total equity
investments exceeding US$1.5 billion in Alliance Tire Groups, Aricent,
Bharti Infratel, Coffee Day Resorts, Dalmia Cement, Gland Pharma, Magma
Fincorp and TVS Logistics. KKR opened its Mumbai office in 2009.
KKR Asia Pacific
Anita Davis, 852-3602-7335
Kristi Huller, 212-750-8300
for KKR India
Mihir Mukherjee, +91 99875 56960
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