KKR, a global investment firm, announced on Wednesday an agreement to pursue acquisitions and investment opportunities by establishing an integrated entity to provide asset management services to the oil and gas industry globally.
The platform will be led by Founder and Executive Chairman Deepak Munganahalli, who brings more than 20 years of global oil and gas experience to the company, KKR said. He will be based in Dubai.
Deepak Munganahalli said, “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.”
Ash Upadhyaya , Director at KKR, said, “We are excited about the opportunity to partner with Deepak, given his depth of experience and track record in the industry.”
The investment in the platform will be made primarily by the KKR Asian Fund II. Further details of the transaction were not disclosed.