Private Equity

PE Fund Investments

ADIA, KKR invest $1.5 B in Reliance Retail warehouse assets

Abu Dhabi Investment Authority (ADIA) and KKR have invested INR 12,864 crore (USD 1.5 Billion), split equally, in the warehousing assets of Reliance Retail Venture Ltd (RRVL). This is outside of the Infrastructure Investment Trust (InvIT) that RRVL had set up last year to house about half of its retail warehousing assets.The purchase was funded by way of senior debt of INR 7,075 crore, instruments similar to equity such as subordinated non-convertible debentures (NCDs) of INR 5,275 crore and the remainder through equity infusion.In March, RRVL had transferred 11-12 million sq ft of warehousing assets to Reliance Logistics and Warehouse Holdings (RLWH) which was incorporated in December 2022.Both ADIA and KKR are investors in RRVL and Jio Platforms, which runs RIL’s digital and telecom businesses.