KKR eyeing Canadian energy sector investment up to several billion dollars

|About: KKR (KKR)|By:, SA News Editor

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.