Rockefeller Foundation Joins Coalition To Mobilize Infrastructure Investment in the Indo-Pacific Region

Led by co-chairs GIP and KKR and the Indo-Pacific Partnership for Prosperity, new coalition also includes Allied Climate Partners, BlackRock, and Temasek

SINGAPORE | June 6, 2024 ― Today the Indo-Pacific Partnership for Prosperity (IP3), Global Infrastructure Partners (GIP), and KKR announced the formation of a new coalition to catalyze infrastructure investment in the emerging market partner economies of the Indo-Pacific Economic Framework (IPEF). GIP and KKR will serve as co-chairs of the new initiative.

The coalition aims to accelerate investment in infrastructure and support IPEF economies in achieving their economic development, human capital and sustainability goals. Coalition members will help facilitate the identification, promotion, and development of successful infrastructure projects across the region. They will also support coordination with governments, multilateral development banks and development finance institutions to create solutions to de-risk investments.

The co-chairs and IP3 will be joined in the coalition by other global investors and partners including: Allied Climate Partners, BlackRock, GIC, The Rockefeller Foundation, and Temasek. The coalition estimates that its members, taken together, have over $25 billion (USD) in capital that can be deployed in Indo-Pacific emerging market infrastructure investments in the coming years.

The coalition also includes the Center on Global Energy Policy (CGEP) at Columbia University’s School of International and Public Affairs (SIPA) as a knowledge partner.

“This coalition will play a vital role in increasing private infrastructure investment in Indo-Pacific emerging markets,” said David Talbot, Executive Director of IP3. “The coalition brings together Indo-Pacific investors, knowledge partners, governments, and development experts around the achievable mission of closing the investment gap in IPEF partner countries. IP3’s unmatched network of public, private and non-profit leaders is excited to help lead the formation of this investment accelerator.”

“GIP and KKR are proud to be leading this effort to help catalyze and enable infrastructure investment in the Indo-Pacific,” said Matt Harris, GIP Founding Partner and Co-Chairman of the investor coalition. “Together, we look forward to helping IPEF countries further their economic development and harness the opportunity private capital provides to advance efficiency and resilience in critical infrastructure.”

“There is a significant need to accelerate infrastructure investment to support Indo-Pacific countries in achieving their economic ambitions,” said Joe Bae, Co-Chief Executive Officer, KKR and Co-Chairman of IP3 and the investor coalition. “As one of the largest infrastructure investors in Asia, we see tremendous long-term opportunities in the region’s infrastructure and look forward to collaborating with the coalition to increase the deployment of private capital in the Indo-Pacific region.”

The coalition will initially focus on scaled infrastructure investments across the energy, transportation, water and waste, and digital sectors.

About Indo-Pacific Partnership for Prosperity

The Indo-Pacific Partnership for Prosperity (IP3) is a collaboration of public, private, and non-profit leaders dedicated to mobilizing capital and expertise to advance economic growth, sustainability, and inclusivity in the fourteen partner countries of the Indo-Pacific Economic Framework (IPEF). IP3 is a non-profit, non-governmental organization that works with partners across the region to strengthen the resilience of critical supply chains, accelerate the energy transition, and bolster workforce development and upskilling. For additional information, visit: https://www.indopacificpartnership.org/.

Launched in May of 2022, The Indo-Pacific Economic Framework (IPEF) is an initiative between the United States, Australia, Brunei, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam, which seeks to advance the resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness of the 14 IPEF economies. This partnership revolves around three of the Framework’s pillars to include supply chains, clean economy, and fair economy.

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 www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Global Infrastructure Partners (GIP)

Global Infrastructure Partners (GIP) is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors. Headquartered in New York, GIP has offices in Brisbane, Dallas, Hong Kong, London, Melbourne, Mumbai, Singapore, Stamford and Sydney.

GIP has approximately $112 billion in assets under management. Our portfolio companies have combined annual revenues of approximately $73 billion and employ over 115,000 people. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our investors’ capital and to create positive economic impact for communities. For more information, visit www.global-infra.com.

About The Rockefeller Foundation

The Rockefeller Foundation is a pioneering philanthropy built on collaborative partnerships at the frontiers of science, technology, and innovation that enable individuals, families, and communities to flourish. We make big bets to promote the well-being of humanity. Today, we are focused on advancing human opportunity and reversing the climate crisis by transforming systems in food, health, energy, and finance. For more information, sign up for our newsletter at www.rockefellerfoundation.org/subscribe and follow us on X @RockefellerFdn and LI @the-rockefeller-foundation.

This press release first appeared in indopacificpartnership.org on June 6th, 2024, and is reposted with permission.