U.S. private equity firm KKR & Co will invest $100 million alongside investment firm Associated Partners LP to build wireless communications infrastructure, the Wall Street Journal reported, citing people familiar with the matter.
The way the deal is structured, KKR is making minority investments in three businesses managed by Associated Partners, according to the Journal.
Besides the initial investment, KKR could also contribute more funds later, some of the people told the newspaper.
In its latest ventures, Associated Partners is aiming to ramp up its business upgrading wireless systems in rural areas, which generally lag behind those in urban areas in data handling capacity, the paper said.
The deal is expected to be announced Monday.
KKR could not immediately be reached for comment by Reuters outside of regular U.S. business hours.
(Reporting by Sakthi Prasad and Varun Aggarwal in Bangalore; Editing by Supriya Kurane)