KKR launches highway InvIT in India

30 Aug 2022 CW Team

On August 29, KKR launched its Highway Infrastructure Trust (HIT), the firm's third InvIT. The Highway Infrastructure Trust (HIT) has a combined asset value of $3.8 billion.

HIT, Virescent Renewable Energy Trust (renewable energy InvIT), and India Grid Trust (transmission InvIT) cover 33 assets across 22 states, according to the company.

“HIT’s initial portfolio comprises six roads assets with a total length of more than 450 kilometres across six states in India. The assets, which include a diversified mix of toll and annuity roads, are located in Gujarat, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana,” as per the company statement.

The Securities and Exchange Board of India (Sebi) currently has 19 InvITs registered, the vast majority of which are in the highways sector. KKR's highway InvIT follows in the footsteps of infrastructure industry pioneers such as Cube Highways, IRB Infrastructure, and the National Highways Authority of India.

“With our dedicated platforms across transmissions, roads, and renewables in place, KKR is well-positioned to collaborate with sellers in the private markets and the government through the National Monetisation Pipeline on attractive investment opportunities,” said Hardik Shah, a partner at the company.

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