SYDNEY, 26 September 2024–(BUSINESS WIRE)–KKR, a leading global investment firm, and Skip Essential Infrastructure Fund today announced that they have signed definitive agreements under which a consortium of KKR (on behalf of its managed funds) and Skip Essential Infrastructure Fund (the “Consortium”) will acquire a 74.25% equity interest in Queensland Airports Limited (“Queensland Airports”) from The Infrastructure Fund, managed by Macquarie Asset Management, State Super and Australian Retirement Trust.

The Queensland Airports portfolio includes Gold Coast, Townsville, Longreach and Mount Isa airports, which together serve 39 domestic routes and six international routes, generating close to 66,700 aircraft movements annually.

Andrew Jennings, Managing Director and Head of Infrastructure Australia and New Zealand (ANZ), KKRsaid: “Our investment in Queensland Airports is a unique opportunity to acquire a high-quality asset that provides critical services in a resilient market with strong macroeconomic headwinds. Queensland Airports plays an important role in connecting the Queensland community with the rest of Australia and beyond. We look forward to working with Skip Essential Infrastructure Fund, Perron Group and the management team to deliver growth initiatives to better serve Australian and international passengers.”

In Asia Pacific, KKR’s approach to infrastructure investing combines local knowledge and capabilities with global network and operational expertise. In Australia, KKR sees transport, energy, media and telecommunications as core to its infrastructure strategy.

KKR is making this investment from its Asia Pacific Infrastructure Investors II Fund. This follows KKR’s June 2024 announcement as part of the Indo-Pacific Partnership for Prosperity to mobilise infrastructure in the Indo-Pacific region and marks KKR’s latest infrastructure investment in the ANZ region. Previous ANZ infrastructure investments include: Spark Infrastructurewhich owns high-quality regulated electricity networks across Australia; and Ritchies Transport, a leading transport operator in New Zealand.

Skip Capital CEO and Founder Kim Jackson said: “The Skip Essential Infrastructure Fund is proud to support the Gold Coast, Townsville, Longreach and Mt Isa airports. In addition to providing vital transport to one of Australia’s fastest growing corridors on the Gold Coast, we are excited about our plans to enhance the airport’s offering to residents and tourists and drive energy innovation across the group.”

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Skip Capital is making this investment from its Skip Essential Infrastructure Fund. Previous investments include data centre owner and operator Stack Infrastructure Australia, Energy Bay, Group Homes Australia and Spark Infrastructure.

The transaction is expected to close in late 2024, subject to customary conditions, including regulatory approvals. Financial details were not disclosed.

RBC Capital Markets served as financial advisors to KKR and Skip Essential Infrastructure Fund and Gilbert + Tobin served as legal advisors.

About KKR

KKR is a leading global investment firm offering alternative asset management, capital markets and insurance solutions. KKR seeks to generate attractive investment returns by taking a patient and disciplined approach to investing, employing world-class talent and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets, and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR investments may include the activities of sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), visit the KKR website at www.kkr.com. For additional information about Global Atlantic Financial Group, visit the Global Atlantic Financial Group website at www.globalatlantic.com.

About Skip Capital

Skip Capital is an Australian private investment firm and one of the largest family offices in Australia. Skip Capital is a long-term investor in high-growth technology and future-proof infrastructure that will last for decades. With founder-friendly, flexible capital, Skip Capital has a proven track record of supporting management teams to innovate and grow.

Skip Capital invests in Queensland Airports through the Skip Essential Infrastructure Fund. This strategy invests in real assets of businesses that deliver innovative and essential solutions to improve society and the planet. The SEIF focuses on climate, data, waste, water, transport and health.

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For more information, please contact:

KKR Asia Pacific
Wei Jun Ong
+65 6922 5813
[email protected]

Sodali & Co.
James Strong
+61 (0)448 881 174
[email protected]