<p>Global investment firm KKR on Monday said it has signed a definitive agreement to acquire Global Infrastructure Partners' entire stake in Highway Concessions One (HC1) and seven highway assets with a total length of 487 kilometres.</p>.<p>With this acquisition, KKR aims to help strengthen and expand India's national highway network, which serves about 40 per cent of total traffic but accounts for only 2 per cent of the country's road network, it said in a statement.</p>.<p>HC1 is a platform in India that manages Global Infrastructure Partners' (GIP) road portfolio which spans across seven states namely Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana.</p>.<p>"Roads are one of the largest and most crucial infrastructure assets in India...We are truly excited to invest in a high-quality platform and through HC1 play a part in India's transport infrastructure," Managing Director and Head of India Infrastructure at KKR, Hardik Shah said.</p>.<p>KKR made its investment from the KKR Asia Pacific Infrastructure Fund, it added.</p>.<p>This is KKR's third investment in India from the Fund and its first in Asia's transport sector.</p>.<p>Recent infrastructure investments in India include India Grid Trust (IndiGrid), an infrastructure investment trust, and Virescent Infrastructure, a renewable energy company in the country.</p>.<p>EY and Deloitte acted as advisors while AZB & Partners and Simpson Thacher & Bartlett acted as legal advisors to KKR.</p>
<p>Global investment firm KKR on Monday said it has signed a definitive agreement to acquire Global Infrastructure Partners' entire stake in Highway Concessions One (HC1) and seven highway assets with a total length of 487 kilometres.</p>.<p>With this acquisition, KKR aims to help strengthen and expand India's national highway network, which serves about 40 per cent of total traffic but accounts for only 2 per cent of the country's road network, it said in a statement.</p>.<p>HC1 is a platform in India that manages Global Infrastructure Partners' (GIP) road portfolio which spans across seven states namely Gujarat, Karnataka, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana.</p>.<p>"Roads are one of the largest and most crucial infrastructure assets in India...We are truly excited to invest in a high-quality platform and through HC1 play a part in India's transport infrastructure," Managing Director and Head of India Infrastructure at KKR, Hardik Shah said.</p>.<p>KKR made its investment from the KKR Asia Pacific Infrastructure Fund, it added.</p>.<p>This is KKR's third investment in India from the Fund and its first in Asia's transport sector.</p>.<p>Recent infrastructure investments in India include India Grid Trust (IndiGrid), an infrastructure investment trust, and Virescent Infrastructure, a renewable energy company in the country.</p>.<p>EY and Deloitte acted as advisors while AZB & Partners and Simpson Thacher & Bartlett acted as legal advisors to KKR.</p>