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KKR to invest $100 million into wireless infrastructure

KKR is making its 11th infrastructure investment. This time they are focussing on wireless infrastructure in rural America. KKR will be a minority investor in its three different communication companies. 1. PEG Bandwidth is a company that builds and operates backhaul networks. Their focus is on connecting wireless communication towers to the data and fiber backbone networks on the ground. 2. AP Wireless buys cell sites both on the ground and on rooftops (domestic and international.) 3. AP Towers develop wireless communication towers and purchase already existing towers. With the explosion of smart devices there has been a dramatic increase in demand for data. This demand is driving investments into wireless infrastructure. The current infrastructural grid is drastically outdated and in a large part of the country still consists of copper cable, which is unable to handle the burden of big data. Raj Agrawal, KKR's Head of North American Infrastructure said, "The need for wireless infrastructure will continue to be driven by increases in wireless data usage that is overwhelming existing network capacity... We are excited about the opportunity to partner with Associated Partners to grow this premier set of businesses with critical telecom infrastructure assets." KKR appears to be betting on factions of the economy that are driven by technical revolutions. In the last year they have also invested into natural gas. With the development of shale natural gas, the amount of natural gas available has skyrocketed. "As the shale revolution is driving the growth of natural gas pipelines to transport molecules, the advent of the smart phone is driving a similar wireless explosion to transmit electrons. Wireless communication networks are an essential component of the nation's infrastructure," said Scott Bruce, Managing Director of Associated Partners, L.P. "We are excited to have KKR partner with us as we expand our businesses."

About KKR Founded in 1976 KKR is  led by Henry R. Kravis and George Roberts. KKR is a leading investment firm with $90.2 billion under management as of September 30, 2013. With offices around the world, and notable global voices such as David Petraeus,  KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments.

http://assetsandmanagement.blogspot.com/2013/10/kkr-to-invest-100-million-in-wireless.html

Alexander Navab co-heads KKR’s North American Private Equity business and heads the Media and Communications industry team in the U.S.

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Bank of England Governor Mark Carney said there’s “no immediate need” to increase borrowing costs and indicated a debate has begun on forward guidance after U.K. unemployment fell faster than anticipated.

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