KKR has agreed to provide $750m in financing to support Chandra Asri Group’s acquisition of Exxon Mobil’s Esso-branded retail fuel stations in Singapore, marking another significant deployment from the firm’s expanding private credit platform.

The financing package is being arranged by KKR Capital Markets and is anchored by capital from KKR’s private credit and insurance strategies.

“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,” said SJ Lim, Managing Director and Head of Asia Private Credit at KKR.

Chandra Asri announced the deal in October and will continue to operate the stations under the Esso brand while sourcing fuel from Exxon. Exxon had previously explored a sale of its network of 59 Esso service stations in Singapore, attracting discussions with banks and private credit funds before KKR stepped in as the primary lender.

The transaction underscores the growing role of large private credit providers in financing corporate carve-outs and energy transition-related acquisitions across Asia.

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