Kohlberg Kravis Roberts, a global buyout firm, has begun an initiative to invest in infrastructure assets after recruiting George Bilicic, a former Lazard managing director, according to a City source.
TXU: A KKR
He said: “Besides energy investing, infrastructure is not something that KKR has done historically. It has made a couple of hires and it has its energy sector team already in place. It will leverage off that to create more of an infrastructure focus.”
The firm is planning to raise a $5 billion (€3.23 billion) fund, according to Financial Times, a UK newspaper. “For the time being KKR will invest in infrastructure from existing funds,” the source said.
Bilicic advised KKR for Lazard on its $45 billion buyout of TXU, a Texan energy company, alongside TPG Capital.
Numerous infrastructure funds have been raised recently. This week, Global Infrastructure Partners, the General Electric and Credit Suisse-backed firm, raised $5.6 billion, while Morgan Stanley, a US bank, closed a $4 billion fund.