NEW YORK & LONDON–(BUSINESS WIRE)–Sep. 6, 2018– KKR, a leading global investment firm, today announced the final closing of KKR Global Infrastructure Investors III (the “Fund”), a $7.4 billion fund focused on pursuing global infrastructure investment opportunities with an emphasis on investments in OECD countries. KKR will be investing $358 million in capital alongside external investors through KKR’s balance sheet and employee commitments.

“The current scale of global infrastructure investment demand is simply enormous, and is only growing, with the need outstripping capital available,” said Raj Agrawal, KKR Member and Global Head of KKR’s infrastructure business. “This dynamic, coupled with limited public financing sources, has created a significant need for private capital to provide infrastructure solutions. We believe our sector expertise and global platform uniquely position us to help fill this funding gap and we look forward to our continued growth in, and commitment to, the infrastructure asset class.”

KKR has a risk-based, rather than a sector-based, approach to infrastructure investing. Consistent with this approach, the Fund will focus on critical infrastructure investments with low volatility and strong downside protection where KKR believes it can leverage its global value creation resources to tackle complexity in sourcing, structuring, operations, and execution. By doing so, the Fund aims to deliver attractive returns with a low risk profile from a portfolio that is broadly diversified across a number of different infrastructure sub-sectors, geographies and asset types. The Fund has a broad investment mandate across infrastructure sectors, including but not limited to: energy; transportation; water, wastewater and waste; social infrastructure; and communications infrastructure. The Fund will also focus its investment mandate on the OECD countries predominantly in North America and Western Europe.

KKR first established a dedicated infrastructure team and strategy in 2008. Since then, the team has grown to consist of 25 experienced investment professionals and has completed or announced 25 infrastructure transactions across a number of sub-sectors and geographies. With the closing of the Fund, KKR’s infrastructure business manages approximately $13 billion in assets under management. Recent transactions by the Fund include Starlight, which owns a portfolio of approximately 10,200 telecommunication towers across France, and Discovery Midstream, the largest private natural gas gathering and processing business in Colorado’s Denver-Julesburg Basin.

The Fund received strong backing from a diverse group of new and existing global investors, including public pensions, sovereign wealth funds, insurance companies, family offices, high net worth individual investors and other institutional investors.

“Since first launching the Fund, we were thrilled to see the incredible momentum we received from investors – both those who were early and large supporters of our predecessor funds and also those who were first-time investors with us as well as the asset class,” said Alisa Amarosa Wood, KKR Member and Head of KKR’s Private Market Products Group. “The enthusiasm we saw across all geographies and investor types demonstrates the strong support for our infrastructure team, strategy and investment performance to date. Additionally, we have seen infrastructure as an asset class mature and grow in the way investors allocate capital to the space. The support for our Fund also speaks to this evolution of the asset class. We believe this continues to be important as the need for infrastructure capital from an investment perspective only grows.”

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180906005282/en/

Source: KKR

Media:
KKR
Kristi Huller or Cara Major, +1 212-750-8300
media@kkr.com

London and Madrid, 30 July 2018 – KKR, a leading global investment firm, today announces the divestment of its 18.2% equity stake in Saba Infraestructuras (“Saba”) to Criteria Caixa, Saba’s existing majority shareholder.

Headquartered in Barcelona, Saba is an industrial operator of urban mobility solutions, specializing in car park management. The business employs more than 1,500 people across Europe and Latin America, and generated revenues of €213m and EBITDA of €100m in 2017.

KKR originally acquired its equity stake in Saba through two transactions in 2011 and 2012, and has worked closely with other shareholders Criteria, Torreal and Proa and with Saba’s management team to help the business transform its operations and achieve its growth objectives. Since its investment, KKR has supported Saba’s international growth through expansion into Portugal, Italy, and Chile, and has helped Saba exit its logistics parks businesses to focus on winning and extending contracts in its car parking business.

Saba has also been supported by specific expertise from KKR Capstone and KKR Capital Markets, who helped Saba deliver cost efficiencies and optimise its capital structure to provide a firm foundation for future growth.

Tara Davies, Member and Head of European Infrastructure at KKR, said “We are delighted to have contributed to reinforcing Saba’s leading position in the sector. The business has transformed since 2011 and we are confident that it is well-positioned for continued strong growth in the future.”

Alejo Vidal-Quadras, Director at KKR and Head of the Madrid office, said “KKR has leveraged the full strength of its platform and capability to support Saba over the past years, demonstrated by the strength of its recent performance. The partnership with Saba builds on KKR’s track record of supporting leading Spanish businesses with their operations and growth strategy.”

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media Contacts

UK / International
Alastair Elwen
Finsbury
Phone: +44(0)20 7251 3801
Email: alastair.elwen@finsbury.com

Spain Javier Curtichs
Tinkle
Phone: +34 91 702 10 10
Email: jcurtichs@tinkle.es

• EQT Infrastructure enters into exclusive negotiations to acquire SAUR Group, a leading French drinking water and wastewater management company providing water infrastructure management services for municipalities under long-term contracts

• EQT Infrastructure committed to become a responsible owner and trusted partner supporting SAUR’s sustainable growth and development – in France as well as internationally

• Investment a milestone on EQT’s overall growth strategy and geographical expansion into the attractive French market

The EQT Infrastructure III fund (“EQT Infrastructure”) has entered exclusive negotiations to acquire Holding d’Infrastructures des Métiers de l’Environnement (“HIME”), the holding company of SAUR Group (“SAUR” or the “Group”) from its current shareholders including BNP Paribas and Groupe BPCE. BNP Paribas will invest as minority shareholder alongside EQT Infrastructure in SAUR.

SAUR, founded in 1933, is a leader in the outsourced French water supply and treatment market. The Group serves approximately 7,000 French local authorities under long-term contracts with focus on small and mid-sized municipalities. SAUR also has an international footprint with presence in Saudi Arabia, Scotland, Spain, and Poland, among others. With approximately 9,000 employees, SAUR provides service to around 13 million consumers in France and worldwide. The Group had net revenues of around EUR 1.29 billion in 2017.

As a shareholder with a long-term, industrial and responsible ownership approach, EQT Infrastructure intends to bring SAUR unique opportunities to develop further and return to sustained growth across its geographical markets.

Matthias Fackler, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, says: “EQT has followed SAUR for many years, it is a well-positioned company in an attractive market with significant development potential. We aim to unlock this by working together with SAUR’s dedicated management and employees leveraging on the company’s proven agility, operational network and proximity to customers. EQT’s industrial network will provide complementary experiences in water infrastructure management, digitalization and sustainable development.”

Lennart Blecher, Deputy Managing Partner at EQT and Head of EQT Real Assets, continues: “We are both proud and humble about being in exclusive negotiations to become the owner of SAUR. EQT strongly believes that we will be able to add value thanks to the deep sector and operational experience among EQT’s industrial advisors. The investment will also be an important next step for EQT’s overall expansion into France, following a number of high-profile real estate acquisitions. We see it as a very interesting market with vast investment opportunities relevant for EQT’s approach of active and engaged ownership.”

Louis-Roch Burgard, Executive Chairman of SAUR, says: “This shareholding evolution is a major step which will enable us to reinforce our development perspectives in line with our Initiative 2022-ambitions. We are convinced that the combination of EQT’s expertise in infrastructure and our operator’s experience will be a key lever to contribute to the Group’s growth, both in France and abroad, and will serve the interest of all our employees. This evolution perfectly meets the Group’s willingness to carry on with their commitment to their clients, be they local authorities or consumers, to offer them an innovative local service part of a social responsibility approach.”

The transaction, which will be EQT Infrastructure’s first investment in France, will be contingent upon the standard regulatory approvals and is subject to the required Works Councils consultations. The parties have agreed not to disclose financial details related to the transaction. The transaction could be finalized by the end of 2018.

Rothschild is acting as exclusive financial advisor and Clifford Chance as legal advisor to EQT Infrastructure.

Contacts
Matthias Fackler, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +49 89 255 499 505
EQT Press office +46 8 506 55 334
Brunswick Paris Benoit Grange and Hugues Boeton Tel: +33 1 53 96 83 83
Mail: eqtfrance@brunswickgroup.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds, EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Saur
As a longstanding environmental services leader, SAUR serves local authorities and industrial companies in the successful implementation of development projects in water supply and treatment, environmental services (engineering, infrastructure services). SAUR worldwide presence Saudi Arabia, Scotland, Spain, Poland. 2017 key figures (excluding waste management): EUR 1.29 billion Group net revenue, 7,000 local authorities contracted, 9,000 employees and 13 million consumers in France and worldwide.

More info: www.saur.com