KKR invests in Bengaluru project

KKR & Co. has made a debt investment of Rs 725 crore ($102 million) in a project of Bengaluru-based developer Embassy Group.

KKR made the investment on behalf of its KKR India Asset Finance Pvt. Ltd, its real estate–focused non-banking financial company.

“KIAFL looks to provide tailored, flexible financing solutions to high-quality projects in strong micro markets,” said Sanjay Nayar, member and head of KKR India. “With this in mind, mid-market residential and commercial projects in Bangalore are among the most interesting themes for us.”

KKR India Asset Finance was established in 2015 and has invested more than $1.5 billion in India’s realty sector across projects in Bengaluru, Hyderabad, Mumbai and Pune.

Last month, KKR appointed Shikha Sharma, former managing director and chief executive of Axis Bank, as an adviser to its corporate and real estate–focused NBFCs in India. As an adviser, Sharma is assisting KKR’s NBFCs by advising the