Kohlberg Kravis Roberts & Company (KKR) has made a $100 million wireless infrastructure investment, the alternative investment firm has announced.
KKR, via its billion-dollar KKR Global Infrastructure Investors fund, has invested in Associated Partners, which is characterised as a “telecom industry investment vehicle”.
Associated Partners is managed by David and Bill Berkman of the wealthy Berkman family – a close-knit, financially savvy family hailing from Pittsburgh which rose to prominence investing in early-stage cable and cellular technology.
Under the transaction KKR has become a minority owner in Ethernet network developer PEG Bandwidth, AP Wireless and AP Towers. KKR in its statement described the growth in wireless usage as “overwhelming” for current capacity.
KKR said the transaction marked its 11th infrastructure investment and its fifth in North America. In addition to Associated Partners, KKR has invested in Colonial Pipeline, SunTap Energy, Bayonne Water & Wastewater Concession and SSM Solar.
New York-headquartered KKR closed KKR Global Infrastructure Investors on $1.1 billion in June 2012. The firm has a $4 billion energy and infrastructure platform.