Private Equity Firm KKR Eyes Entry To Oil & Gas Segment

KKR & Co. L.P. (NYSE: KKR), a global investment management firm, on Wednesday announced it plans on establishing an integrated entity to provide asset management services to the oil and gas industry.

The new platform will be led by KKR's Executive Chairman Deepak Munganahalli out of Dubai.

Munganahalli stated: "Our goal is to become an integrated solutions provider for engineering, maintenance, repair and overhaul services for asset owners and operators in the oil and gas industry. Together with KKR and its deep industry and investment expertise, we look forward to providing a differentiated set of capabilities to the industry."

The company noted that the investment platform will be made primarily in its KKR Asian Fund II. Further details of the transaction were not disclosed.

Shares of KKR are lower by more than 30 percent since the start of 2015.