KKR deepens Investment in UAE with ADNOC Gas Pipeline Stake
Global investment firm KKR has further solidified it’s presence in the Middle East through a new agreement with the Abu Dhabi National Oil company (ADNOC). KKR has acquired a minority stake in ADNOC Gas Pipeline Assets,the entity responsible for operating 38 gas pipelines and two export terminals within the United Arab Emirates. The financial terms of the deal were not disclosed.
This investment builds upon a previous partnership established in 2019, when KKR and BlackRock invested in ADNOC’s oil pipeline infrastructure, opening avenues for increased foreign investment in the region. KKR views the Middle east as a strategically vital market, citing strong economic fundamentals and proactive leadership as key drivers for investment.
The ADNOC gas pipeline network, crucial for connecting the company’s production to customers across the UAE, will remain under the full ownership and operational control of ADNOC. KKR’s investment, made through its managed accounts, is designed to generate stable, long-term returns.
KKR’s expanded commitment to the region is also demonstrated by a recent investment in Dubai-based Gulf Data Hub,alongside a partner firm,totaling over $5 billion to support the growth of GDH’s data center network.
The firm has maintained a presence in the Middle East for over 16 years, with offices in the UAE and Saudi Arabia. KKR currently manages more than $90 billion in global infrastructure assets, a strategy launched in 2008. David Petraeus, KKR Partner and Chairman of the KKR Global Institute and KKR Middle East, leads the firm’s regional efforts, supported by a dedicated investment team headed by Julian Barratt-due.
