The Capital Is Ready. The River Isn’t.

KKR closed the largest infrastructure fund in its history. Caterpillar disclosed a record $72.1 billion order backlog on its first $20 billion quarter. And in the Danube basin, Romania's navy detonated explosives to keep cooling water reaching a nuclear reactor while Hungary's Paks plant ran at 230 megawatts out of roughly 2,000. A power purchase agreement can guarantee a price. It cannot guarantee a river. Also today: Aramco's $108 realised barrel, the Treasury's $739 billion borrowing estimate, and the one ETF that took more money than its entire fund category. Full edition: https://www.universalassetowners.com/intelligence/kkr-raised-19-2bn-romania-blew-up-a-rock-in-the-danube/