KKR & Co has deepened its presence in the Gulf with the acquisition of a minority stake in Adnoc Gas Pipeline Assets LLC, marking the buyout firm’s second transaction in Abu Dhabi this year, according to a report by Bloomberg.
The deal builds on KKR’s track record in the region, following its landmark 2019 investment in Adnoc’s oil pipeline network – the first time a foreign asset manager took a direct interest in the infrastructure of a Gulf state-owned energy company. That holding was later sold, alongside BlackRock, back to an Abu Dhabi entity in 2024. Financial details of the new gas pipeline transaction were not disclosed.
The move underscores the growing role of global private equity and infrastructure investors in unlocking capital for Gulf energy companies while allowing state-owned operators to retain control of strategic assets. Adnoc, like peers across the region, has increasingly turned to international capital partners as part of wider economic diversification plans.
KKR’s investment comes as the firm continues to scale its $90bn global infrastructure platform. Earlier this year, it also took a stake in one of the Middle East’s largest data centre operators and named former US General David Petraeus as chairman of its regional franchise.
The Gulf continues to attract private capital inflows, with Brookfield, CVC Capital Partners, and General Atlantic among other major private equity groups ramping up their presence. Recent regional infrastructure transactions include BlackRock’s $11bn Jafurah gas project leaseback with Aramco and reported plans by Kuwait Petroleum Corp. to monetise part of its pipeline system.
