KKR invests in ADNOC gas pipeline infrastructure in Middle East push

ABU DHABI, Oct 1 (Reuters) - Global investment firm KKR KKR.N has acquired a minority stake in the entity that leases Abu Dhabi National Oil Company's (ADNOC) gas pipeline assets, it said on Wednesday, without disclosing financial details.

KKR, along with BlackRock, had previously invested in ADNOC's oil pipeline assets in 2019, acquiring a 40% stake which it divested last year.

KKR is acquiring the minority stake in ADNOC Gas Pipeline Assets through its managed accounts, matching the type and tenure of the investment with long-duration capital, according to a company statement.

ADNOC retains ownership and operational management of the pipelines. The United Arab Emirates oil giant has sought such partnerships to tap new pools of foreign institutional capital, while maintaining operational control over critical infrastructure assets.

KKR, which manages over $90 billion in infrastructure assets globally, appointed General David Petraeus as its Middle East chairman earlier this year as part of efforts to grow its regional business and team.

"We are pleased to expand our strategic partnership with ADNOC and to invest further in Abu Dhabi’s long-term prosperity and critical infrastructure," Petraeus said in the statement.