Global investment firm KKR & Co. LP closed its fund, KKR Energy Income and Growth Fund I, with $2 billion for investment in North American unconventional oil and gas resources, the company said March 5.
The fund will generate income and increase capital, the company said, adding that it will support joint venture drilling investments, mineral and royalty acquisitions and producing assets.
The fund was backed by new and existing KKR investors, including pensions, sovereign wealth funds, insurance companies, foundations, endowments, private banking platforms, family offices and individual investors, KKR said.
Marc Lipschultz, global head of energy & infrastructure, said, “The energy revolution has created an unprecedented opportunity set, and we are seeing many ways to partner with companies to help develop these important resources,” adding, “Pursuing asset-level and structured investments, we intend to deploy creative and flexible structures that seek to best meet the needs of our partners while delivering benefits associated with real asset ownership. We appreciate the diversity and support of new and existing KKR investors.”
KKR has committed roughly $4.3 billion to oil and natural gas investments since 2009, the company noted, adding that it has $8.7 billion in total energy and infrastructure-related assets.
KKR & Co. LP is based in New York.
Recommended Reading
Shell’s CEO Sawan Says Confidence in US LNG is Slipping
2024-02-05 - Issues related to Venture Global LNG’s contract commitments and U.S. President Joe Biden’s recent decision to pause approvals of new U.S. liquefaction plants have raised questions about the reliability of the American LNG sector, according to Shell CEO Wael Sawan.
Some Payne, But Mostly Gain for H&P in Q4 2023
2024-01-31 - Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
Green Swan Seeks US Financing for Global Decarbonization Projects
2024-02-21 - Green Swan, an investment platform seeking to provide capital to countries signed on to the Paris Agreement, is courting U.S. investors to fund decarbonization projects in countries including Iran and Venezuela, its executives told Hart Energy.
BP Pursues ‘25-by-‘25’ Target to Amp Up LNG Production
2024-02-15 - BP wants to boost its LNG portfolio to 25 mtpa by 2025 under a plan dubbed “25-by-25,” upping its portfolio by 9% compared to 2023, CEO Murray Auchincloss said during the company’s webcast with analysts.
Sunoco’s $7B Acquisition of NuStar Evades Further FTC Scrutiny
2024-04-09 - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Sunoco’s pending acquisition of NuStar Energy has expired, bringing the deal one step closer to completion.