KKR to infuse USD 150 mn into Indian NBFC arm
The capital commitment will enhance the KKR India Financial Services' (KIFS) ability to provide loans to local companies by bolstering the financial position, an official statement said.
The NBFC sector has been in troubles for over a year now, starting with the collapse of infra-focused IL&FS, triggering a liquidity crisis.In the statement, KKR's co-presidents and co-chief operating officers Joe Bae and Scott Nuttall said this is a "unique" time in the Indian credit markets, with many lenders being unable to invest despite a demand for alternative credit.
In the past 10 years, KIFS has deployed more than USD 5 billion in over 150 deals in India, it said."Private lending in India is more important than ever. India has been an important part of KKR's global growth strategy in Asia," KKR India Chief Executive Officer Sanjay Nayar said.
The statement said KKR, a majority owner of KIFS, will fund the investment through its balance sheet. AA HRS
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