KKR hires former Macquarie exec to build APAC infra business

Singapore downtown. Photo: bady qb/unsplash

Global buyout firm KKR has appointed former Macquarie Group executive David Luboff as a member and the head of its Asia Pacific Infrastructure business, it said in an announcement on Thursday.

Based in Singapore, Luboff will lead the pan-Asia operations of KKR’s global infrastructure business.

“Across the region, distinct macroeconomic and societal trends are fostering a unique need for expertise and private capital solutions for projects in a wide range of infrastructure sub-sectors,” said Raj Agrawal, KKR Member and Global Head of KKR’s infrastructure business, in a statement.

Before joining KKR, Luboff spent over 18 years at Macquarie Group, most recently as the CEO and Investment Committee member of Macquarie’s Asia Infrastructure Funds I and II and was a Senior Managing Director at Macquarie Infrastructure and Real Assets (MIRA).

Luboff had also held other prior senior roles within MIRA including Chief Investment Officer and CEO of Macquarie Specialized Asset Management, as well as CFO of ASX-listed MAp Airports. He holds a Bachelor of Commerce (Actuarial) and a Bachelor of Applied Finance from Macquarie University.

KKR was earlier reported to be in talks to raise $1.5-2 billion for its maiden Asia infrastructure fund. The firm last year closed KKR Global Infrastructure Investors III at $7.4 billion to pursue global infrastructure opportunities with an emphasis on investments in North America and Europe.

KKR had earlier added Hardik Shah to its infrastructure team as a Mumbai-based director. Shah is a former Brookfield Asset Management executive. KKR’s infrastructure team currently has more than 28 investment professionals who handle transactions across a range of sub-sectors and geographies and manage approximately $13 billion in assets under management.

“Our strategy in Asia Pacific is to take the experience and expertise of KKR’s global platform and adapt it to local-market conditions to support local management teams to build world-class companies across the region,” said Ming Lu, Member and Head of KKR Asia.

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