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The headquarters of national oil Co. ABU Dhabi (ADNOC), to the right and etihad towers, a center surrounded by residential and commercial property in Abu Dhabi, United Arabies, on Sunday, April 10, 2022. It is not just about oil production, for which the countries should pay attention, but also investments in reinforcements, almonds, almonds, are almonds.
Christopher Pike | Bloomberg | Ghetto images
Global Giant for Private Capital Kkr He expanded his partnership with the National Petroleum Company at Abu Dhabi, gaining a minority share in the assets of the Adnoc gas pipeline.
This subsidiary ADNOC operates 38 gas pipelines and two export terminals in the United Arab Emirates. KKR did not reveal the value of the CNBC deal.
Partnership follows 2019 of Adnoc Oil pipelines are engaged With KKR and Blackrock, which opened the door to foreign direct investment throughout the region.
“This investment reflects KKR’s commitment to expand partnerships and investment in the Middle East,” said David Petrey, a partner in KKR and chairman of Global Institute KKR and KKR Middle East. “The strong foundations of the region, the bold vision and the focused leadership are offering increasing opportunities for global investors.”
Earlier this year, the company appointed the former CIA Director Petrey, who joined KKR in 2013 as chairman of its operations in the Middle East and launched a specialized investment team led by Julian Barat-Di.
The deal marks another cornerstone in the extension of KKR in the region. It has acquired a stake in the Dubai Bay Data Center, with a combined commitment from the two companies of over $ 5 billion to finance the expansion of the GDH data network.
The Adnoc gas pipeline, which connects the company’s assets with internal UAE, remains fully owned and managed by ADNOC. KKR has taken a minority share so Adnoc will maintain control. KKR bet – acquired through its managed accounts – is structured to receive long -term revenue, the company said.
This move is expanding the presence of KKR over the 16-year presence in the Middle East, with offices in the UAE and Saudi Arabia. The company is now managing more than $ 90 billion in infrastructure assets globally after launching its infrastructure strategy in 2008, according to information on its website.
