KKR, GIP, Indo-Pacific Group Form $25 Billion Regional Infrastructure Tie-Up
By Kimberley Kao
A coalition of investors, led by private-equity firms KKR and Global Infrastructure Partners, as well as the Indo-Pacific Partnership for Prosperity, have pledged to invest $25 billion in infrastructure in the Indo-Pacific region, focusing on sectors like energy and the environment.
"Coalition members will help facilitate the identification, promotion and development of successful infrastructure projects across the region," the three organizations said in a joint statement on Thursday.
KKR and GIP will co-chair the initiative. The other investors include Singapore's Temasek Holdings and GIC, Allied Climate Partners, BlackRock and The Rockefeller Foundation. The combined members have over $25 billion in capital that can be deployed in Indo-Pacific emerging market infrastructure investments in the coming years, according to the statement.
The coalition will initially focus on scaled infrastructure investments across the energy, transportation, water and waste, and digital sectors, aiming to activate these investments in the emerging-market economies of the Indo-Pacific Economic Framework for Prosperity, or IPEF.
The IPEF was formed in May 2022 as an initiative among countries, including the U.S., Australia, Japan and Singapore, to focus on advancing supply chains, clean economy and fair economy in the region.
This comes as Singapore's trade ministry said that over $23 billion of sustainable infrastructure investment opportunities had been identified at an IPEF investor forum that it organized in Singapore on Thursday.
"Of these, 20 investment-ready projects worth about $6 billion were presented to investors," the ministry said in a statement. "Remaining projects worth about $17 billion were also identified as potential investment opportunities in the future," the ministry said.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
June 06, 2024 05:45 ET (09:45 GMT)
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