The investment expands the ongoing relationship between KKR and SK E&S and advances SK E&S’ commitment as a clean energy solutions provider
Seoul, South Korea, December 22, 2022–(BUSINESS WIRE)–KKR, the world’s leading investment firm, today entered into a deal with South Korean energy company SK E&S to enter into a newly issued redeemable convertible by SK E&S. announced that it has entered into an agreement to acquire preferred stock (“RCPS”).
The transaction marks KKR’s second investment in SK E&S through the purchase of newly issued RCPS, following an initial investment in November 2021, which marks the growth of SK E&S into a global clean energy solutions provider. and used to accelerate transformation. According to SK E&S, SK E&S is now looking to secure liquidity and deleverage to capture post-pandemic opportunities across energy and renewable assets.
Keith Kim, managing director of KKR’s infrastructure team, said: He believes this transaction is very much in line with KKR’s broader strategy of creating customized solutions to support the corporate goals of Korean companies. ”
Founded in 1999, SK E&S is part of SK Group, one of South Korea’s largest conglomerates. SK E&S is developing various businesses, from upstream businesses such as overseas gas field development to downstream businesses such as power generation, regional energy, and city gas. Today, SK E&S is poised to accelerate its growth and advance its goal of becoming the world’s leading clean energy solutions provider by focusing on hydrogen, renewable energy and related energy solutions.
KKR is an Asia Pacific infrastructure firm dedicated to supporting infrastructure assets and businesses with growth potential in developed and developing markets in Asia, including South Korea, India, the Philippines, Japan, Australia, New Zealand and China. We are investing from the structure strategy. The investment in SK E&S is also KKR’s latest investment in South Korea and the renewable energy sector. Since 2011, KKR has 23 GW of operational generating capacity as of December 31, 2021. He has deployed over US$15 billion of equity worldwide to invest in renewable assets such as solar and wind. I’ve been As a core part of our infrastructure strategy, we aim to invest behind significant opportunities across the region.
The transaction is also KKR’s latest investment in South Korea and builds on its track record as an active investor across asset classes such as infrastructure, private equity, real estate and credit.
KKR is a leading global investment firm providing alternative wealth management, capital markets and insurance solutions. KKR seeks to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class talent, and supporting the growth of the companies and communities in which we invest. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries, managed by Global Atlantic Financial Group, offer retirement, life insurance and reinsurance products. References to KKR investments may include the activities of sponsor funds and insurance subsidiaries. For more information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and Twitter @KKR_Co.
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