KKR and GIC to acquire a 57% stake in India Grid Trust for $400m.

Private equity firm KKR and Singapore's sovereign wealth fund GIC are to acquire a 57% stake in India Grid Trust, an infrastructure investment trust established to own inter-state power transmission assets in India, for $400m. GIC is contributing $140m to the deal while KKR is investing the rest from its own balance sheet. The deal would mark KKR’s first infrastructure investment in Asia since it set up a team late last year that focuses on the sector in the region.