Investment Summary

BlackRock Capital Investment and KKR Invest In ADNOC Oil Pipelines

On June 24, 2019, business development company BlackRock Capital Investment and private equity firm KKR invested in oil/gas exploration company ADNOC Oil Pipelines from ADNOC

Investment Highlights
  • This is BlackRock Capital Investment’s 1st and KKR’s 6th transaction in the Oil/Gas Exploration sector.
  • This is BlackRock Capital Investment’s 1st and KKR’s 2nd transaction in United Arab Emirates.

Investment Summary
Date 2019-06-24
Target ADNOC Oil Pipelines
Sector Oil/Gas Exploration
Investor(s) BlackRock Capital Investment
KKR
Sellers(s) ADNOC
Deal Type Stake Purchase

Target

ADNOC Oil Pipelines

Abu Dhabi, United Arab Emirates
ADNOC Oil Pipelines will lease ADNOC’s interest in 18 pipelines, transporting stabilized crude oil and condensate across ADNOC’s offshore and onshore upstream concessions, for a 23-year period. ADNOC Oil Pipelines is based in Abu Dhabi, United Arab Emirates.

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Investor(S) 2

Investor

BlackRock Capital Investment

New York, New York, United States

Investor Investor Investor Investor Investor

Category Business Development Company
Founded 2005
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

BlackRock Capital Investment is a publicly traded business development company (BDC) that provides middle-market companies with a variety of financing solutions. This includes senior and junior secured, unsecured and subordinated debt securities and loans, as well as equity. BlackRock Capital targets profitable companies with strong management and defensible market positions that may be underserved by traditional lending sources. The Firm looks to commit $10 to $50 million in businesses generating $10 to $50 million of EBITDA. BlackRock was formed in 2005 by BlackRock and Kelso & Company. The Firm has offices in New York City and Chicago.

DEAL STATS #
Overall 30 of 33
Sector (Oil/Gas Exploration) 1 of 1
Type (Stake Purchase) 2 of 2
Country (United Arab Emirates) 1 of 1
Year (2019) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-30 Morae

Houston, Texas, United States

Morae is a full-service, integrated provider of services for the legal departments and compliance functions of large corporations and major law firms around the world. Morae was founded in 2015 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-17 General Electric - Solar Business

Fairfield, Connecticut, United States

General Electric's Solar Business provides solar and storage solutions for the commercial industrial and public sectors. General Electric's Solar Business is based in Fairfield, Connecticut.

Buy -
Investor

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 307 of 476
Sector (Oil/Gas Exploration) 6 of 7
Type (Stake Purchase) 39 of 66
Country (United Arab Emirates) 2 of 3
Year (2019) 12 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-21 Trainline

London, United Kingdom

Trainline is an online provider of rail tickets for rail travel in the UK. The Company was Founded in 1999 and is based in London, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-27 123Dentist

Burnaby, British Columbia, Canada

123Dentist is a dental support organization with practices across the country. It aligns with the individual needs of each dentist partner to deliver on its core promises of practice-by-practice flexibility and long-term partnership solutions that reflect the unique needs of each dentist partner. 123Dentist was established in 2011 and is based in Burnaby, British Columbia.

Buy -

Seller(S) 1

SELLER

ADNOC

Abu Dhabi, United Arab Emirates
Category Company
Sector Oil/Gas Exploration
DESCRIPTION

Abu Dhabi National Oil Co. is a major diversified group of energy and petrochemical companies that produces about 3 million barrels of oil and 10.5 billion cubic feet of raw gas a day. It's integrated upstream, midstream and downstream activities are carried out by 14 specialist subsidiary and joint venture companies.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Stake Purchase) 1 of 1
Country (United Arab Emirates) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-24 VTTI

Rotterdam, Netherlands

VTTI is an independent global marine terminal businesses that, through its subsidiaries and partnership interests, owns and operates approximately 54 million barrels2 of petroleum products storage across 13 terminals located on five continents. VTTI is based in Rotterdam, Netherlands.

Buy -
Mergr

Product

Company

Legal