KKR is hoping to secure anchor commitments by next month at the soonest for its third and latest Asia Pacific infrastructure fund, according to sources familiar.

The US manager has not fixed a definitive target for the new fund yet. However, one of the sources said it is seeking a range between USD 7bn and USD 9bn.

Based on strong early traction, the vehicle is expected to be meaningfully larger than its predecessor, the sources said. In 2024, KKR closed its second Asia Pacific infrastructure fund at USD 6.4bn — the largest regional infrastructure fund to date.

The manager made a Luxembourg registration filing for the fund last November.

The anchor round will be followed by an official first close for the third fund, although there is no first close timetable yet, said one of the sources.

KKR Asia Pacific Infrastructure Investors III, launched earlier this year, will be a continuation of the manager’s regional infrastructure strategy.

It will take a pan-regional approach with a broad mandate across multiple sectors, including renewables, power and utilities, water and wastewater, digital infrastructure, and transportation, akin to its predecessor.

The manager has so far made 18 infrastructure investments in the region, according to its website. Recent investments from the strategy include:

Bushu Pharma, a Japanese pharmaceuticals contract manufacturer;
Hero Future Energy, an Indian renewables producer;
LEAP India, a pallet pooling provider;
Nxera, the data centres arm of Singapore’s Singtel;
Optic Marine Services Group, a Malaysian offshore telecom infrastructure services provider;
Serentica, an Indian clean energy platform; and
STT Global, a Singapore-headquartered data centres operator;

KKR closed its first Asia Pacific infrastructure fund at USD 3.9bn in 2021.

It established its global infrastructure team and strategy in 2008. The global strategy has USD 80bn in assets under management with over 130 dedicated executives, as of 31 December 2024, its website shows.

KKR declined to comment.