Taiwan’s Fubon Life Insurance commits $200m to KKR’s global infra fund

Photo: Getty Images

Fubon Life Insurance, the insurance unit of Taiwanese financial conglomerate Fubon Financial Holdings, has committed to invest $200 million in the flagship infrastructure fund of private equity giant KKR & Co.

In a filing with the Taiwan Stock Exchange, Fubon Financial said its insurance unit plans to invest in KKR Global Infrastructure Investors Fund IV. The proposed investment will give Fubon Life Insurance a 1.67% share in the infrastructure fund.

According to a Reuters report, KKR is seeking to raise $12 billion for the flagship global fund that will invest in infrastructure assets such as oil and gas pipeline and renewable energy projects.

Fund IV will be significantly larger than its predecessors. Fund III, Fund II, and Fund I had raised $7.4 billion, $3.1 billion, and $1 billion, respectively.

The private equity firm’s infrastructure business is led by US-based partner Raj Agrawal. Some of KKR’s recent infrastructure investments include Canadian pipeline firm Coastal GasLink and Indian power transmission company IndiGrid Trust.

KKR expects to raise over $100 billion for its multiple investment strategies in 2021-22. Of this, about $15-20 billion is to be raised for its various infrastructure funds, according to its investor day presentation in April this year.

Fubon Life Insurance, which offers life protection, savings, annuity, accident, and health insurance products to customers, is the second-largest insurer in Taiwan based on total premiums, after Cathay Life Insurance.

The Taiwanese insurer was founded in 1993 as a wholly-owned subsidiary of Fubon Financial to provide life protection, savings, annuity, accident, and health insurance products to customers.

The company has announced multiple investment commitments this year. DealStreetAsia reported in June that Fubon Life committed to invest $65 million in the latest growth fund of technology-focused PE firm Coatue Management.

In May, the insurance company also committed to invest $65 million in KKR’s flagship North America buyout fund – KKR North America Fund XIII SCSp – for an estimated 0.52% share.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.