News Digest

05 December 2017
ADIA buys stake in KKR India Financial Services

The Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by the Emirate of Abu Dhabi, has acquired a minority stake in KKR India Financial Services Pvt. Ltd (KIFS), KKR said on Monday. KIFS, an alternative credit business of global private equity leader KKR & Co. in India, has received an undisclosed amount from an entity wholly owned by the ADIA, according to an official statement from KKR. Further details of the transaction were not disclosed. “India continues to be an underserved financial services market, with shallow capital markets and an over-reliance on banks for wholesale financing. KIFS has consistently provided flexible credit financing solutions to companies and shareholders, keeping in mind their long-term objectives for their business,” said B.V. Krishnan, member at KKR and chief executive of KIFS. ADIA has been investing in India as a limited partner (or LP—an investor in a private equity fund) and has partnered with several private equity funds in India. ADIA had announced a plan to invest $1 billion in the National Investment and Infrastructure Fund (NIIF), as an agreement had been signed between NIIF Master Fund and a wholly-owned subsidiary of the ADIA, in October.

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