After energy and transmission, investment major KKR launches highway InvIT

Its InvITs have a combined value of $3.8 billion and cover 33 assets in 22 states

road construction
Dhruvaksh Saha New Delhi
1 min read Last Updated : Aug 30 2022 | 1:04 AM IST
Investment major KKR on Monday launched its highway infrastructure investment trust (InvIT), the Highway Infrastructure Trust (HIT), which is the firm’s third InvIT, with a combined asset value of $3.8 billion.

Between HIT, Virescent Renewable Energy Trust (renewable energy InvIT), and India Grid Trust (transmission InvIT), the three InvITs cover 33 assets in 22 states, the company said.

“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,” according to a company statement.

There currently are 19 InvITs registered with the Securities and Exchange Board of India (Sebi), a majority of which are in the highways segment. KKR’s highway InvIT follows in the footsteps of infrastructure leaders like Cube Highways, IRB Infrastructure, and the National Highways Authority of India itself.

“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.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :KKRKKR Asset FinanceIndia highway projectsTop 10 headlinesCompaniesrenewable energyInvIT

Next Story