- KKR says it will open its first Canadian office next month in Calgary, the capital of Canada's oil patch, as it seeks to tap into growing demand for private-equity financing in the region and expand its presence in the global energy industry.
- KKR Director Brandon Freiman, who will relocate from the NYC headquarters to start up the new office, is eyeing investment of $500M to "several billion dollars" over the next five years in upstream oil and gas production, midstream pipelines and related infrastructure as well as energy services businesses.
- The planned investments will include providing financing instead of outright takeovers, KKR says.
- Canadian energy names on the radar: SU, IMO, BTE, SOQ, ERF, CVE, COSWF, AAV, BXE, CNQ.
KKR eyeing Canadian energy sector investment up to several billion dollars
Jan 9 2014, 16:31 ET