KKR, the New York-based investment firm headed by Henry Kravis and George Roberts has plans to open an office in Calgary, says company spokeswoman Kristi Huller. The confirmed opening of a new office is part of KKR’s plan to further expand its energy business.
According to Bloomberg Business, the investment firm is “setting up a $1.5 billion fund to focus on minerals and oil-and-gas development, [and] has backed several U.S. shale-gas exploration and production ventures in the past five years.” These investments in energy acquisition are part of the development of KKR’s Energy and Infrastructure division, which has been bolstered in recent history with help from a team with deep industry experience. KKR explains, “We are committed to investing in energy and infrastructure assets on a global basis and have made a number of notable investments involving highly complex situations,” as detailed by Bloomberg Business.
According to a detailed report by Marc S. Lipschultz, KKR’s Global Head of Energy and Infrastructure,
“Recent advances in production techniques unlocked long known but previously untapped natural gas resources of an immense scale. We believe these newly recoverable gas resources can provide the U.S. with at least an additional 100 years of supply at current usage levels. This presents a truly transformative change in America’s energy supply picture, and one with potential to grow the economy, reduce energy import dependence and enhance national security, lower household energy bills, reduce emissions, and spur a manufacturing renaissance.”
From Lipschultz’s report, entitled “Historic Opportunities from the Shale Gas Revolution,” alone, it is clear that KKR is ready to make some serious investments in the acquisition of untapped shale gasses. Such an investment may prove both environmentally and economically invaluable to the company and its global network.
Learn more about KKR’s energy and infrastructure investment expansion programs on their website.