Global private equity powerhouse KKR has deepened its partnership with the Abu Dhabi National Oil Company (ADNOC) by acquiring a minority stake in ADNOC Gas Pipeline Assets.
The ADNOC subsidiary operates 38 gas pipelines and two export terminals across the UAE. Financial terms of the deal were not disclosed.
This follows ADNOC’s 2019 oil pipelines deal with KKR and BlackRock, which opened the region to foreign direct investment.
David Petraeus, KKR partner and chair of KKR Middle East, said:
“This investment reflects KKR’s commitment to expand partnerships and investment across the Middle East. The region’s strong fundamentals, bold vision, and focused leadership offer increasingly attractive opportunities for global investors.”
Earlier this year, Petraeus — former CIA director — was appointed chair of KKR’s Middle East operations, leading a dedicated team under Julian Barratt-Due.
KKR previously acquired a stake in Dubai-based Gulf Data Hub, committing more than $5 billion to expand its data center network.
ADNOC will retain operational control of its gas pipeline network. KKR’s minority stake is structured for long-term revenue through its managed accounts.
The deal further strengthens KKR’s 16-year presence in the Middle East, with offices in the UAE and Saudi Arabia. Globally, the firm manages over $90 billion in infrastructure assets since launching its infrastructure strategy in 2008.