KKR, GIP lead $25 billion regional infrastructure partnership

SINGAPORE (Reuters) – KKR, Global Infrastructure Partners (GIP) and the Partnership for Indo-Pacific Prosperity have formed a coalition to invest $25 billion in infrastructure in the Indo-Pacific region, U.S. Commerce Secretary Gina Raimondo said on Thursday.

Speaking from Singapore, Raimondo said investments would include green data centers in Indonesia, renewable energy in the Philippines, smart meters and hybrid renewable energy in India.

“Coalition membership (of the Indo-Pacific Economic Framework) will help facilitate the identification, promotion and development of successful infrastructure projects across the region,” the three organizations said in a joint statement.

The coalition will initially focus on large-scale infrastructure investments across the energy, transport, water and waste and digital sectors, the statement said.

Private equity funds KKR and GIP will co-chair the initiative, and global investors including BlackRock (NYSE:), GIC, Rockefeller Foundation and Temasek will be part of the coalition, the statement said.

Raimondo said more than $23 billion worth of investment opportunities have been identified by the Indo-Pacific Economic Framework (IPEF).

Investment opportunities in 69 “sustainable infrastructure” projects have been identified, the IPEF Investor Forum, under Singapore’s Ministry of Trade, which hosted the forum, said on Thursday.

“Of these, 20 investment-ready projects worth about $6 billion were presented to investors. The remaining projects worth about $17 billion were also identified as potential investment opportunities,” the ministry said.