KKR eyes YIDO for another eco-friendly investment here
Posted : 2021-04-08 15:27
By Park Jae-hyuk
KKR is in talks with YIDO to acquire around a 50 percent stake in the Korean property management company for around 200 billion won ($180 million), according to industry sources and media reports, Thursday.
Considering that YIDO has been focusing on the waste management sector lately, the latest negotiation is interpreted as part of KKR s efforts to increase environmental investments here.
Last year, the global private equity firm (PEF) became the second-largest shareholder of TSK by taking over a 37.39 percent stake in the local sewage management firm for 440 billion won from SK E&C, Huvis and SK Discovery. This deal was signed a few months after KKR acquired controlling stakes in Eco Solution Group and its affiliate, ESG Cheongwon, for around 800 billion won from Anchor Equity Partners.
Through Asian Fund IV, KKR would plan to pursue opportunities stemming from rising consumption and urbanization trends, as well as corporate carve-outs, spin-offs, and consolidation as companies look to optimize their portfolios, a strategy led by a team of approximately 70 investment professionals based in eight offices across six major Asia Pacific markets.
Earlier this year, KKR announced the final closings of its inaugural pan-regional infrastructure and real estate funds – the US$3.9 billion Asia Pacific Infrastructure Investors fund and US$1.7 billion Asia Real Estate Partners fund.
“The opportunity for private equity investment across Asia Pacific is phenomenal. While each market is unique, the long-term fundamentals underpinning the region’s growth are consistent – the demand for consumption upgrades, a fast-growing middle class, rising urbanization, and technological disruption.
Global firm KKR announced on Tuesday the final close of a $15 billion fund focused on investments in private equity transactions in the Asia Pacific region. KKR Asian Fund IV will invest approximately $1.3 billion in capital alongside fund investors through the firm. “Over the last 16 years we have strategically built our Asia Pacific platform and diverse regional team to unlock what we believe are some of the most compelling investment opportunities in the world given Asia Pacific’s growth and dynamism,” said Ming Lu, head of KKR Asia Pacific. “Our new flagship private equity fund meaningfully adds to our multi-asset platform and strengthens our investment position across the region. We are grateful to our investors who have acknowledged the success of our Asia Pacific strategy and share our conviction in the tremendous potential that the region’s businesses hold,” he said.
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