KKR has led investment in a A$400m (£207.3m) financing solution for Australian petroleum company Ampol through its Asia Pacific Credit strategy and insurance platform.
KKR’s Asia Pacific credit platform draws on its private markets investment capabilities to provide bespoke solutions to high-quality companies, entrepreneurs and sponsors.
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The global alternative investor has deployed more than US$9.1bn (£6.8bn) across 63 credit investments under its Asia Pacific Credit strategy since 2019, accounting for a total transaction volume of more than US$28.4bn.
KKR’s cornerstone investment was supported by Singapore-based Clifford Capital, a global infrastructure credit platform backed by Singapore’s sovereign wealth fund Temasek.
The investment will support Ampol’s refinancing initiatives and other general corporate purposes, in line with its capital allocation framework.
Ampol, which operates an integrated fuel supply and marketing value chain in Australia, and a national network of terminals and pipelines, has a convenience retail footprint of approximately 1,700 sites.
The company also has around 500 retail sites in New Zealand and international operations via its trading and shipping capabilities based in Singapore and the US.
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“Ampol is an established, strong investment-grade business with a long operating history and a sophisticated approach to capital management,” said Diane Raposio, partner and head of Asia credit and markets at KKR. “We are pleased to partner with Ampol on this financing, building on KKR’s track record in the ANZ region and across Asia Pacific.”
“Private investment grade credit continues to present compelling opportunities for institutional investors seeking resilient, long-term returns,” added Vidyasagar Pulavarti, chief investment officer, asset management at Clifford Capital. “We are delighted to collaborate with KKR, Ampol and Barrenjoey on this transaction, which underscores Clifford Capital Asset Management’s role as a trusted partner in accessing, structuring and delivering high-quality private credit assets, underpinned by rigorous investment discipline and robust investment committee oversight through our private investment grade strategy.”
