KKR has opened a new office in Abu Dhabi as the private equity giant accelerates its investment push across the Middle East, signalling growing long-term ambition in the region, according to a report by Bloomberg. The move marks the firm’s third Middle East base after Dubai and Riyadh.
The $723bn alternatives manager has deployed around $2bn in the Gulf over the past ten months, including investments in Abu Dhabi National Oil Company’s gas pipeline network and a stake in one of the region’s largest data centre firms. Co-chief executive Scott Nuttall said the firm is scaling its regional activity in line with its long-term expansion strategy, as it has done in Europe and Asia.
KKR joins a growing list of global alternative managers increasing exposure to the Gulf, including Brookfield, BlackRock, CVC and General Atlantic, as governments expand privatisation programmes and push economic diversification. The region’s sovereign wealth funds remain key capital providers, although competition for assets and investor scrutiny on valuations have intensified.
The firm currently employs around 20 staff across the Middle East and has recently expanded its regional investment team under the leadership of Julian Barratt-Due.
