KKR partners with Associated Partners, chips in USD100 million to build wireless infrastructure
KKR & Co was reportedly spending USD100 million with another private equity firm on an infrastructure project. Citing sources at a Wall Street Journal report, Reuters said KKR and investment firm Associated Partners LP had planned to invest in a wireless communications infrastructure.
According to the Journal, the structured deal would have KKR place minority investments in three businesses that Associated Partners manages. Some of the sources had also told the Journal that KKR could be adding more money into the project later on. An announcement of the deal would be said on Monday.
Associated Partners' latest venture would be one of its many strategies in ramping up wireless system upgrades in rural areas. The Journal disclosed that the data handling capacity in rural areas lag behind those that were located in the urban areas.
When asked for comment outside business hours in the US, the news agency could not reach the private equity firm.