KKR wraps up second infrastructure fund at $3.1 bln

KKR has closed its second global infrastructure investors’ fund at its $3.1 billion hard cap, the firm announced today.

KKR Global Infrastructure Investors II will target infrastructure investments with a special focus on OECD countries.

The fund’s limited partners include public and corporate pensions, asset managers, sovereign wealth funds, insurance companies and foundations.

KKR’s initial infrastructure fund raised $1.04 billion in 2010, generating an average IRR of 5.21 percent and an average multiple of 1.13x, as of December 31, 2014, reports data provider Bison.

According to the firm, KKR is now managing about $5.6 billion in infrastructure assets and has deployed about $1 billion via infrastructure co-investments.

Recent infrastructure investments include Veresen Midstream Limited Partnership, a natural gas midstream platform with Veresen Inc in Western Canada; and European Locomotive Leasing, a provider of electric locomotive leasing solutions for freight and passenger operators in Europe.

Photo courtesy of bluehand/Shutterstock.com.