Private Equity

Other Private Equity/Strategic Investments

KKR in talks to invest $400-M in Hero Future Energies

Economic Times  

Global private equity firm KKR and Co is in talks to invest around USD 400 million in Hero Group's renewables energy company Hero Future Energies (HFE) in return for a significant minority stake. The funding is expected to see the company's valuation cross USD 1 Billion. The investment will largely be a primary infusion to reduce debt and grow the business. JP Morgan is the advisor on the transaction. The investment, via KKR's infrastructure fund, would make it a co-promoter along with founder chairman and managing director Rahul Munjal. Apart from the Hero Group, the International Finance Corporation (IFC) is an investor in the company, along with Masdar, also known as Abu Dhabi Future Energy Co., which had picked up a 20% stake (for USD 150 million) in November 2019.