KKR will invest $250m in India retailer RRVL

• KKR’s total equity stake in RRVL is now 1.42 percent on a fully diluted basis
• Morgan Stanley acted as financial advisor to RRVL on the transaction
• Founded in 1976, KKR has approximately $519 billion in assets under management as of June 30, 2023

KKR will be making a follow-on investment of $250 million in India-based retailer Reliance Retail Ventures Limited.

RRVL is a subsidiary of Reliance Industries.

As a result of the investment, KKR’s total equity stake in RRVL is now 1.42 percent on a fully diluted basis.

Joe Bae, Co-CEO, KKR, said, “We are pleased to extend our relationship with Reliance Retail Ventures. Throughout our investment period in Reliance Retail, we have been impressed by the company’s vision and extensive work to empower retailers across India through digitalization, as well as by its resilience and performance in spite of the pandemic and other disruptions. We look forward to continuing to work alongside the Reliance Retail team to support the company’s mission to build a more inclusive Indian retail economy.”

Morgan Stanley acted as financial advisor to RRVL on the transaction while Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsel.

Founded in 1976, KKR has approximately $519 billion in assets under management as of June 30, 2023.