KKR Expands Middle East Presence with Kuwait Pipeline Deal
Kuwait's national oil company is reviving a project to lease out and then lease back its crude oil pipelines. Meanwhile, global investment firm KKR is expanding its Middle East presence with a series of infrastructure deals.
KKR, managing over $90 billion in infrastructure assets globally, is acquiring a minority stake in Kuwait's pipeline project through its managed accounts. The investment aligns with long-duration capital, mirroring KKR's recent deals in the region.
Earlier this year, KKR appointed General David Petraeus as its Middle East chairman, reflecting the firm's growing interest in the area. In Abu Dhabi, KKR acquired a minority stake in the entity leasing gas pipeline assets of Adnoc, with Adnoc retaining ownership and operational control. This follows KKR's 2019 investment in Adnoc's oil pipeline network, later divested to Abu Dhabi-based Lunate.
KKR's Middle East expansion also includes a stake in Dubai-based Gulf Data Hub, a major data centre company. The firm and the company committed to support over $5 billion to build out data centre capacity.
These deals reflect the UAE, Saudi Arabia, and Bahrain's strategy to attract new pools of foreign institutional capital while maintaining operational control over critical infrastructure. KKR's investments in the Middle East's energy and technology sectors demonstrate the firm's confidence in the region's growth prospects.
Read also:
- Crooked House Pub's Demolition: Council Orders Rebuild, Debate on Historic Building Protections
- Shaping India's Economic Progression: Readying the Financial System for Tomorrow
- Conflict between Ben & Jerry's co-founder and Unilever over Gaza issues leads to resignation of co-founder
- Tesla Expands Supercharger Network in Canada by Over 630 Stalls by 2025
