An entity of the Abu Dhabi Investment Authority (ADIA) has become a significant minority shareholder in global investment firm KKR’s India Financial Services (KIFS), an alternative credit business in India.
No further details were disclosed.
“India continues to be an underserved financial services market, with shallow capital markets and an over-reliance on banks for wholesale financing,” said BV Krishnan, Member at KKR and CEO of KIFS.
“KIFS has consistently provided flexible credit financing solutions to companies and shareholders, keeping in mind their long-term objectives for their business.
“ADIA’s investment in KIFS gives us a high-calibre partner to work alongside as we further scale our platform and deliver creative solutions in the market,” he added.
Hamad Shahwan AlDhaheri, executive director of the Private Equities Department at ADIA, noted “India is one of the world’s fastest growing and most dynamic markets, and Indian businesses are increasingly seeking alternative credit solutions.”
“KIFS has played an integral role in the development of this important form of financing in India and, through our investment in the company, we look forward to supporting the continued evolution of the market,” he added. Becoming a shareholder in KIFS is also consistent with ADIA’s approach of seeking principal investments in market-leading businesses alongside strong and high-quality partners.”
KIFS has extended approximately $4 billion of financing to companies in India over the past eight years.
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