Latest news with #PacificEquityPartners
Yahoo
an hour ago
- Business
- Yahoo
KKR to acquire Australia's Zenith Energy from consortium
Investment firm KKR has signed definitive agreements to acquire Australia-based Zenith Energy from a consortium of Pacific Equity Partners, Canada's OPSEU Pension Trust (OPTrust) and the Foresight Group. The strategic partnership will enhance Zenith's ability to expand renewable and hybrid energy solutions throughout Australia's most remote and energy-intensive sectors. Zenith is an independent power producer focusing on sustainable and dependable hybrid power solutions for remote, off-grid clients in the resource sector, as well as urban microgrids for commercial, industrial and residential areas. The company plays a vital role in supporting Australia's extensive off-grid mining industry and has built a robust reputation over its 18 years of operation. It currently offers more than 710MW of contracted capacity across 15 sites, all secured through long-term agreements. KKR is executing the acquisition through its Asia Pacific Infrastructure Investors II Fund. The transaction marks an expansion by the company into the renewable energy sector as it continues to grow its global infrastructure portfolio. KKR Australia and New Zealand (ANZ) infrastructure managing director and head Andrew Jennings stated: 'Zenith's position at the forefront of the energy transition, coupled with its long-term relationships with strategic, high-quality counterparties, make it an ideal investment for our Asia Pacific infrastructure platform. 'Zenith has established itself as one of the clear leaders in deploying and managing hybrid power solutions in Australia, a priority market for KKR in Asia Pacific. We look forward to supporting Zenith and its management team over the next stage of growth and helping them capitalise on the significant opportunity for off-grid renewable power.' The acquisition follows Zenith's recent A$1.9 billion ($1.24 billion) refinancing and upsizing of existing debt facilities, which provided more than A$1 billion in growth capital from various lenders to support new project development within Australia's resource sector. The deal is expected to close by late 2025, pending regulatory approvals. Zenith Energy CEO and managing director Hamish Moffat stated: 'We are excited by the opportunity presented by KKR's investment in the company and its strategy, which is a strong validation of Zenith's capabilities and competitive edge. The investment by KKR will accelerate our growth and ability to service large-scale projects with a broad capital base. 'Today's announcement positions the company to continue providing our distinct value proposition via these unique remote energy solutions to our existing clients, while enabling us to pursue a robust pipeline of new opportunities as Australia's mining sector intensifies its decarbonisation efforts.' In January 2025, AEP entered a strategic partnership worth $2.82bn with KKR and PSP Investments to divest a 19.9% equity interest in its transmission companies in the US states of Ohio, Indiana and Michigan. "KKR to acquire Australia's Zenith Energy from consortium" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Wall Street Journal
10 hours ago
- Business
- Wall Street Journal
KKR to Acquire Australian Power Provider Zenith Energy
KKR agreed to acquire Australian independent power producer Zenith Energy. The investment firm said Monday it is buying Zenith from a consortium including Pacific Equity Partners, OPSEU Pension Trust and Foresight Group. Zenith's founder and management will retain a minority stake.
Bloomberg
10 hours ago
- Business
- Bloomberg
KKR to Buy Australian Off-Grid Power Specialist Zenith Energy
KKR & Co. has agreed to buy Zenith Energy, a Perth-based provider of off-grid power systems, from a group including Pacific Equity Partners Pty Ltd., OPSEU Pension Trust and Foresight Group Holdings Ltd. The investment firm didn't provide a value for the deal, but said in a statement that it followed Zenith's completion of a A$1.9 billion ($1.2 billion) refinancing that provided the company with more than A$1 billion of capital to support the development of new projects. KKR will make the investment from its Asia Pacific Infrastructure Investors II Fund.
Yahoo
12 hours ago
- Business
- Yahoo
KKR Acquires Leading Australian Independent Power Producer Zenith Energy
Transaction marks latest infrastructure investment in ANZ and renewable energy investment in APAC SYDNEY, June 16, 2025--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced the signing of definitive agreements to acquire Zenith Energy ("Zenith" or the "Company"), a leading independent power producer ("IPP"), from a consortium including Pacific Equity Partners, OPSEU Pension Trust ("OPTrust"), and Foresight Group (together the "Consortium"), with Zenith's founder and management retaining a minority stake. KKR's investment will position Zenith well for continued long-term growth on the back of favorable sector fundamentals and macro tailwinds. Zenith specialises in the delivery of sustainable and reliable hybrid power solutions for remote, off-grid resource sector clients and urban microgrids for commercial, industrial, and residential precincts. Zenith provides an essential service for Australia's large off-grid mining industry and the Company has established a strong track record over its 18-year operating history. Today, the Company has more than 710MW contracted capacity across ~15 sites, secured under long-term contracts. Andrew Jennings, Managing Director and Head of Australia & New Zealand (ANZ) Infrastructure, KKR, said, "Zenith's position at the forefront of the energy transition, coupled with its long-term relationships with strategic, high-quality counterparties, make it an ideal investment for our Asia Pacific infrastructure platform. Zenith has established itself as one of the clear leaders in deploying and managing hybrid power solutions in Australia, a priority market for KKR in Asia Pacific. We look forward to supporting Zenith and its management team over the next stage of growth and helping them capitalise on the significant opportunity for off-grid renewable power." Zenith's CEO and Managing Director, Hamish Moffat, said: "We are excited by the opportunity presented by KKR's investment in the company and its strategy, which is a strong validation of Zenith's capabilities and competitive edge. The investment by KKR will accelerate our growth and ability to service large scale projects with a broad capital base. There are significant and immediate opportunities inherent in the decarbonisation of Australia's mining sector, which Zenith is uniquely positioned to deliver via large-scale, high penetration, hybrid power projects. Today's announcement positions the company to continue providing our distinct value proposition via these unique remote energy solutions to our existing clients, while enabling us to pursue a robust pipeline of new opportunities as Australia's mining sector intensifies its decarbonisation efforts." The announcement follows Zenith's completion of a A$1.9 billion refinancing and upsizing of its existing bank debt facilities, with the increased limit providing the company with more than A$1 billion of growth capital from several lenders to support the development of new projects. A portion of this includes green loan facilities, underscoring Zenith's commitment to the energy transition of Australia's resource sector by delivering renewable power technologies and lower emissions solutions for mine site energy supplies. KKR is making this investment from its Asia Pacific Infrastructure Investors II Fund. KKR has a long track-record investing in the renewables sector and energy transition thematic. Past investments in the renewables sector in Asia Pacific include Spark Infrastructure, which owns high-quality, regulated electricity networks across Australia; Virescent Renewable Energy Trust, a renewable energy platform in India; Hero Future Energies, a global renewable energy company; First Gen, a provider of clean and renewable power in the Philippines; and Aster Renewable Energy, a renewables platform in Taiwan. KKR's Asia Pacific infrastructure platform has grown to approximately US$13 billion in assets under management since it was established in 2019. The transaction is expected to close in late 2025, subject to customary regulatory approvals. About Zenith Energy Zenith Energy is Australia's leading IPP with a portfolio of grid-connected and islanded remote microgrids throughout Western Australia and the Northern Territory. Zenith Energy is Australia's largest IPP (by total contracted capacity in the mining and property sectors) and has a contracted capacity of approximately 700MW. The company operates a Build – Own – Operate model and integrates a complete range of renewable and thermal energy generation with innovative technologies to deliver cost-effective and reliable, sustainable energy power solutions. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, 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's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at View source version on Contacts Media Contacts For KKR:Wei Jun Ong+65 6922 James Strong+61 (0)448 881 For Zenith Energy:Caroline Stanley+61 402 170 901cstanley@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 hours ago
- Business
- Yahoo
KKR Acquires Leading Australian Independent Power Producer Zenith Energy
Transaction marks latest infrastructure investment in ANZ and renewable energy investment in APAC SYDNEY, June 16, 2025--(BUSINESS WIRE)--KKR, a leading global investment firm, today announced the signing of definitive agreements to acquire Zenith Energy ("Zenith" or the "Company"), a leading independent power producer ("IPP"), from a consortium including Pacific Equity Partners, OPSEU Pension Trust ("OPTrust"), and Foresight Group (together the "Consortium"), with Zenith's founder and management retaining a minority stake. KKR's investment will position Zenith well for continued long-term growth on the back of favorable sector fundamentals and macro tailwinds. Zenith specialises in the delivery of sustainable and reliable hybrid power solutions for remote, off-grid resource sector clients and urban microgrids for commercial, industrial, and residential precincts. Zenith provides an essential service for Australia's large off-grid mining industry and the Company has established a strong track record over its 18-year operating history. Today, the Company has more than 710MW contracted capacity across ~15 sites, secured under long-term contracts. Andrew Jennings, Managing Director and Head of Australia & New Zealand (ANZ) Infrastructure, KKR, said, "Zenith's position at the forefront of the energy transition, coupled with its long-term relationships with strategic, high-quality counterparties, make it an ideal investment for our Asia Pacific infrastructure platform. Zenith has established itself as one of the clear leaders in deploying and managing hybrid power solutions in Australia, a priority market for KKR in Asia Pacific. We look forward to supporting Zenith and its management team over the next stage of growth and helping them capitalise on the significant opportunity for off-grid renewable power." Zenith's CEO and Managing Director, Hamish Moffat, said: "We are excited by the opportunity presented by KKR's investment in the company and its strategy, which is a strong validation of Zenith's capabilities and competitive edge. The investment by KKR will accelerate our growth and ability to service large scale projects with a broad capital base. There are significant and immediate opportunities inherent in the decarbonisation of Australia's mining sector, which Zenith is uniquely positioned to deliver via large-scale, high penetration, hybrid power projects. Today's announcement positions the company to continue providing our distinct value proposition via these unique remote energy solutions to our existing clients, while enabling us to pursue a robust pipeline of new opportunities as Australia's mining sector intensifies its decarbonisation efforts." The announcement follows Zenith's completion of a A$1.9 billion refinancing and upsizing of its existing bank debt facilities, with the increased limit providing the company with more than A$1 billion of growth capital from several lenders to support the development of new projects. A portion of this includes green loan facilities, underscoring Zenith's commitment to the energy transition of Australia's resource sector by delivering renewable power technologies and lower emissions solutions for mine site energy supplies. KKR is making this investment from its Asia Pacific Infrastructure Investors II Fund. KKR has a long track-record investing in the renewables sector and energy transition thematic. Past investments in the renewables sector in Asia Pacific include Spark Infrastructure, which owns high-quality, regulated electricity networks across Australia; Virescent Renewable Energy Trust, a renewable energy platform in India; Hero Future Energies, a global renewable energy company; First Gen, a provider of clean and renewable power in the Philippines; and Aster Renewable Energy, a renewables platform in Taiwan. KKR's Asia Pacific infrastructure platform has grown to approximately US$13 billion in assets under management since it was established in 2019. The transaction is expected to close in late 2025, subject to customary regulatory approvals. About Zenith Energy Zenith Energy is Australia's leading IPP with a portfolio of grid-connected and islanded remote microgrids throughout Western Australia and the Northern Territory. Zenith Energy is Australia's largest IPP (by total contracted capacity in the mining and property sectors) and has a contracted capacity of approximately 700MW. The company operates a Build – Own – Operate model and integrates a complete range of renewable and thermal energy generation with innovative technologies to deliver cost-effective and reliable, sustainable energy power solutions. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, 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's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at View source version on Contacts Media Contacts For KKR:Wei Jun Ong+65 6922 James Strong+61 (0)448 881 For Zenith Energy:Caroline Stanley+61 402 170 901cstanley@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
