Leading US private equity manager KKR is in advanced negotiations to invest around $400 million in Hero Group’s renewables energy company Hero Future Energies (HFE).
The deal could be the firm’s single largest cheque in the Indian clean and renewable energy space so far, according to a report by business daily The Economic Times.
Last year, KKR raised a record $3.9 billion maiden Asia Pacific Infrastructure Fund. It followed up this year with a $17 billion Global Infrastructure Fund, exceeding the initial $12 billion target.
KKR Infrastructure Fund’s first India transaction was a co-investment in May 2019 with Singapore’s GIC in Indigrid, an operator of 11 electricity transmission assets, where it invested $148 million. In April 2020, it also acquired five operational solar energy assets from Shapoorji Pallonji Infrastructure Capital.
Read more: Money Control
