MANILA - Global investment firm KKR said Wednesday it remained bullish on the Philippines and is ready to add to the $1 billion it has already invested in the country.
KKR, which has investments in fintech, telcos, healthcare and power, said it is looking to support infrastructure that will aid in providing better products and services to the Philippines’ growing middle class.
“In the last 2 years KKR has invested over $1B of capital into the Philippines. That is across 4 investments. Voyager, MPIC hospitals, First Gen and Pinnacle Towers, which operates Frontier Towers, which is going to build Telecoms towers. So hopefully all of those sectors are in some way helping the country,” said Michael de Guzman, KKR managing director for infrastructure.
However, KKR could have invested more in the country if laws on foreign ownership of businesses were less strict, de Guzman told participants in a virtual forum on foreign investment in the post-pandemic Philippines.
"In general as a foreign investor, we are very open to partnering with local groups, because we want to leverage on their expertise and assets on the ground. But if there could be more liberty in foreign ownership that could help.”
KKR, de Guzman said, has $30 billion worth of investments in Asia.
“We see the $1B simply as a starting point and we can maintain this space if we can find enough opportunities and investments.”