KKR has invested S$45m ($33m) in Singapore-based energy savings business Barghest Building Performance, as the firm peruses its impact investment strategy.
BBP provides energy efficiency services for heating, ventilation and air conditioning systems in commercial and industrial buildings. The company has operations across Southeast Asia, China, India and Taiwan.
KKR launched its dedicated Global Impact business in 2018 to invest in businesses which offer commercial solutions toward the achieving the Sustainable Development Goals.
“Our Global Impact team is focused on investing behind companies whose core commercial product or service addresses global environmental or social challenges,” said a statement from KKR Global Impact co-heads Robert Antablin and Ken Mehlman.
“BBP contributes solutions to two of the United Nations SDGs – Affordable and Clean Energy, and Industry, Innovation and Infrastructure – with a business model meant to fundamentally change best practices for energy management.
“BP’s motivation, as is ours, is to achieve meaningful and sustainable costs savings for customers directly alongside long-term and measurable environmental impacts for society”
KKR recently appointed former Macquarie exec David Luboff as head of Asia-Pacific infrastructure. The global private equity giant also agreed to invest up to S$500m ($367m) for a stake in Asian luxury lifestyle and wellness products business V3 Group.
