KKR seeks more Asia-Pacific climate plays after $500m CleanPeak deal
US private equity giant Kolhberg Kravis Roberts is on the hunt for more Asia-Pacific climate transition plays after scooping up Australia's CleanPeak Energy.
Private equity giant KKR intends to invest more capital into Asia-Pacific climate and energy projects from its multi-billion dollar Global Climate Transitions strategy after inking its first deal in Australia this week.
The head of the Global Climate Transitions strategy, Neil Arora, told Capital Brief that the closed-end fund had now invested in six assets globally, including $500 million committed to CleanPeak Energy, an Australian developer of “behind the meter” solar and commercial and industrial rooftop energy systems.
KKR’s Global Climate Transitions Strategy was launched in 2023, within its broader Infrastructure Strategy and is aimed at investing in companies that are developing existing and emerging climate solutions that have strong growth potential and can help drive net zero emissions globally. Singapore-based Arora is a former senior Macquarie infrastructure banker.
The fund is not fully invested and has more capital to deploy, Arora added. But he would not say how much capital has been raised for the new strategy or how much “dry powder” remains, as the vehicle is still in fundraising mode and would violate US Securities and Exchange Commission rules if this were disclosed.
