Private equity
8 linked company profiles · 8 dated disclosures in this directory.
KKR's selected infrastructure and operating-business investments here include Viridor, Northumbrian Water Group, Hyperoptic, John Laing, Zenobē, Smart Metering Systems, Dawsongroup and Exolum. [1][2][3][4][5][6][7][8]
These are selected investments, rather than a complete portfolio or legal parent register. A fund, its investors, an acquisition vehicle and the manager's own corporate ownership can be different relationships. Each card retains the date and individual or collective stake definition. Northumbrian Water Group's 25% KKR holding is an indirect minority stake. Zenobē's majority is shared with Infracapital. Exolum reports capital and voting interests separately. [2][5][8]
Each card names the entity invested in. Linked companies and brands can sit below that entity. Stakes use the source’s definition and date; disclosures are selected and do not give a complete portfolio or investor register. Read the investor methodology.
Fund investment with employee participation
Ownership evidence checked ·
KKR acquired the business in 2025 and describes broad employee equity participation. Do not assume exclusive 100% corporate ownership by KKR or ownership of customers using leased equipment.
Ownership & related brands
KKR · 2025 acquisition and broad employee equity programme
Accessed 9 Oct 2026Two 9.93% capital interests · 10% votes each
Ownership evidence checked ·
The company attributes two 9.93% capital / 10% voting interests to KKR through MEIF 5 Rey Holdings and Ocaso CSXM Spain. CVC holds 24.84% capital / 25% votes through Servet Investments. These are separate minority investments; the retained MEIF name does not establish current Macquarie ownership. Economic capital and voting rights are distinct.
Ownership & related brands
Exolum · CVC: 24.84% capital and 25% votes through Servet; KKR: two 9.93% capital / 10% voting interests through MEIF 5 Rey and Ocaso CSXM
Accessed 9 Oct 2026Fund investment; exact current stake not verified
Ownership evidence checked ·
The company history records the 2019 investment and KKR’s current board-role disclosure supports the relationship. The exact current equity percentage and complete legal holding chain are not established.
Ownership & related brands
Hyperoptic · Company history records KKR investment in 2019
Accessed 9 Oct 2026KKR · Current board roles include Hyperoptic
Accessed 9 Oct 2026Owned by KKR-managed funds; exact stake not supplied
Ownership evidence checked ·
The company history dates the acquisition to 2021. Project-asset portfolio interests and ownership of the John Laing platform are separate; a project disposal does not automatically establish a platform ownership change.
Ownership & related brands
John Laing · Current company page: owned by funds managed by KKR
Accessed 9 Oct 2026John Laing · 2021 acquisition by KKR-managed funds
Accessed 9 Oct 202625% · indirect shareholding
Ownership evidence checked ·
KKR acquired an indirect 25% shareholding on 22 December 2022; the company’s equity investment announcement confirms that stake. This is a minority investment in the parent group, rather than sole ownership of either customer-facing brand.
Ownership & related brands
Northumbrian Water Group · Indirect 25% KKR acquisition on 22 December 2022; Northumbrian Water and Essex & Suffolk Water brands
Accessed 9 Oct 2026Northumbrian Water Group · KKR 25% stake and £100m contribution to £400m shareholder equity investment
Accessed 9 Oct 2026Fund acquisition in 2024; exact current split not verified
Ownership evidence checked ·
KKR’s investment article confirms the acquisition. SMS’s November 2024 announcement also describes an agreement to combine with Horizon Energy Infrastructure and Smart Meter Assets; that agreement alone is not proof of completion of every subsequent transfer.
Ownership & related brands
KKR · KKR acquisition of Smart Metering Systems
Accessed 9 Oct 2026SMS · 28 November 2024: KKR acquisition in 2024; subsequent proposed combination
Accessed 9 Oct 2026Infrastructure fund investment; exact stake not verified
Ownership evidence checked ·
KKR’s current investment and employee-ownership pages support its investment in the waste and energy-from-waste business. The investment dates to 2020; a current exact equity percentage is not assigned.
Ownership & related brands
KKR · Current infrastructure investment case
Accessed 9 Oct 2026KKR · KKR investment and employee ownership programme
Accessed 9 Oct 2026Joint majority with Infracapital; individual stake not supplied
Ownership evidence checked ·
The combined majority is held by KKR and Infracapital together. The 2023 announcement also identifies JERA/TEPCO as a minority investor. It does not establish an individual KKR majority.
Ownership & related brands
Zenobē · 2026 financing: majority owned by KKR and Infracapital together
Accessed 9 Oct 2026Zenobē · 2023 KKR / Infracapital investment with JERA/TEPCO minority
Accessed 9 Oct 2026SMS's November 2024 statement announces a combination with Horizon Energy Infrastructure and Smart Meter Assets after KKR's acquisition. That agreement alone does not establish completion of every later transfer. [9]
KKR's 2025 company case describes employee equity participation following its acquisition. Exclusive 100% KKR corporate ownership is not established. [7]
Exolum attributes the MEIF 5 Rey Holdings interest to KKR in its current table. A retained Macquarie fund name is not proof of continuing Macquarie beneficial ownership. [8]
Research reviewed . Sources for individual investments are included on their disclosure cards.
KKR · Current infrastructure investment case
Accessed 9 Oct 2026Northumbrian Water Group · Indirect 25% KKR acquisition on 22 December 2022; Northumbrian Water and Essex & Suffolk Water brands
Accessed 9 Oct 2026Hyperoptic · Company history records KKR investment in 2019
Accessed 9 Oct 2026John Laing · Current company page: owned by funds managed by KKR
Accessed 9 Oct 2026Zenobē · 2026 financing: majority owned by KKR and Infracapital together
Accessed 9 Oct 2026KKR · KKR acquisition of Smart Metering Systems
Accessed 9 Oct 2026KKR · 2025 acquisition and broad employee equity programme
Accessed 9 Oct 2026Exolum · CVC: 24.84% capital and 25% votes through Servet; KKR: two 9.93% capital / 10% voting interests through MEIF 5 Rey and Ocaso CSXM
Accessed 9 Oct 2026SMS · 28 November 2024: KKR acquisition in 2024; subsequent proposed combination
Accessed 9 Oct 2026