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KKR, a leading global investment firm, has partnered with Chandra Asri Group, one of Southeast Asia’s foremost providers of energy, chemical, and infrastructure solutions, to deliver a bespoke financing package valued at $750 million. The tailored solution was arranged by KKR Capital Markets and is supported by KKR’s private credit and insurance platforms. The investment will help advance Chandra Asri Group’s growth strategy, including its recent acquisition of the Esso-branded retail fuel station network in Singapore from ExxonMobil.
Founded in 1992, Chandra Asri Group has become an important player in Southeast Asia’s energy and industrial landscape. The Group operates across multiple sectors—manufacturing, trading of chemicals and petrochemicals, synthetic rubber, and infrastructure asset management. In 2024, it launched a strategic transformation aimed at building an integrated, connected energy infrastructure ecosystem to support key industries across the region. A central component of this initiative is the acquisition of ExxonMobil’s Esso-branded retail network in Singapore, which strengthens the Group’s downstream and retail presence.
KKR’s Asia Pacific Credit platform focuses on delivering customized private credit solutions to high-quality companies, entrepreneurs, and sponsors across the region. Leveraging KKR’s global investment expertise and extensive private markets capabilities, the platform aims to support organizations pursuing long-term, strategic transformation.
Commenting on the partnership, Andre Khor, Chief Financial Officer of Chandra Asri Group, said:
We are pleased to strategically partner with KKR in supporting our acquisition of ExxonMobil’s Esso-branded retail network in Singapore. Our collaboration with a leading global investment firm reinforces strong confidence in Chandra Asri’s transformation journey and the quality of our expanding downstream energy platform. This strategic partnership enables us to pursue our growth objectives with prudent financial discipline while continuing to deliver reliable and sustainable energy solutions across the region.”
SJ Lim, Managing Director and Head of Asia Private Credit at KKR, added:
We are proud to support Chandra Asri Group on this important milestone. This transaction aligns with our focus on providing tailored capital solutions to leading companies across Asia Pacific, and we look forward to supporting Chandra Asri’s continued growth as it strengthens its downstream energy and retail presence in Singapore.”
KKR’s investment is being made through its Asia Pacific Credit strategy and insurance platform. Since 2019, the firm has committed more than $8 billion across approximately 60 credit investments under this strategy, representing a total transaction volume exceeding $21 billion.
About Chandra Asri Group
Chandra Asri Group is a leading provider of energy, chemical, and infrastructure solutions in Southeast Asia, supplying products and services to various manufacturing industries in both domestic and international markets. Since the Group’s establishment in 1992, Chandra Asri has grown from strength to build our reputation as a reliable growth partner, with strategically well positioned assets in Indonesia and Singapore. The Group’s asset base includes a refinery with a capacity of 237,000 barrels per day alongside a 1.1 million metric ton per annum ethylene cracker on Bukom Island, 2.5 million metric ton per annum downstream chemicals on Jurong Island and Indonesia’s one and only naphtha cracker located in Cilegon with a capacity of 0.9 million metric ton per annum. The Company’s business is supported by core infrastructure assets, including energy, water, ports & storage, and logistics. For more information, visit www.chandra-asri.com.
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.
