KKR Joins £1.5 Billion Effort to Save Thames Water Amid Debt Crisis

Nov 4, 2024, 12:37 PM

Investment giant KKR has entered the battle to save Thames Water, which is struggling under heavy debt. Thames Water's financial troubles began when private equity firms loaded it with debt, extracted dividends, and neglected investment. Now, a group of its lenders, including BlackRock, Abrdn, and M&G, is calling for additional backers to support a £1.5 billion cash injection aimed at giving the company a temporary lifeline. The creditor group is urging others to join the $2 billion lifeline plan to stabilize Thames Water.