KKR Infrastructure Head Expects Deals to Accelerate Next Year

KKR & Co.’s global head of infrastructure, Raj Agrawal, said dealmaking in the sector will probably rise next year as capital markets thaw.

“Inflation and rising interest rates exacerbated a valuation gap between buyers and sellers and froze many traditional credit markets,” Agrawal wrote in a letter to investors seen by Bloomberg News.

Raj Agrawal

Photographer: Bloomberg

Assets with “entrenched customer bases, strong market positions, and contractual and regulatory protections” can provide both a cushion against losses in uncertain economic times as well as a way to buy exposure to secular trends with high growth potential, he wrote.

KKR has leaned ...