KKR to Create Leading Oil and Gas Services Platform
Dubai, United Arab Emirates & Singapore – (BUSINESS WIRE) – Leading global investment firm KKR announced today an agreement to pursue acquisitions and investment opportunities by establishing an integrated entity to provide asset management services to the oil and gas industry, globally. The platform will be led by Founder and Executive Chairman, Deepak Munganahalli, who brings more than 20 years of global oil and gas experience to the company. He will be based in Dubai.
Mr. Munganahalli said, “Our goal is to become an integrated solutions provider for engineering, maintenance, repair, and overhaul services for asset owners and operators in the oil and gas industry. Together with KKR, utilizing their deep industry and investment expertise, we look forward to providing a differentiated set of capabilities to the industry.”
Mr. Ash Upadhyaya, Director at KKR, said, “We are excited about the opportunity to partner with Deepak, given his depth of experience and track record in the industry.”
The investment in the platform will be made primarily by the KKR Asian Fund II. Further details of the transaction were not disclosed. The transaction is subject to regulatory approvals and other customary closing conditions.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at http://www.kkr.com/ and on Twitter @KKR_Co.
For KKR Asia Pacific
Anita Davis, +852 3602-7335
Hill+Knowlton Strategies Asia
Kwai Seng Chan, +852 2894-6314
For KKR Americas
Kristi Huller, +1 212-750-8300