KKR Seeks $1.5 Billion for New Energy Fund

By Sabrina Willmer

KKR & Co. is seeking $1.5 billion for an energy fund that will invest in oil and gas development at the asset level, according to two people with knowledge of the firm’s plans.

The New York-based firm will primarily use the KKR Energy Income & Growth for drilling partnerships with a goal of generating steady income and distributions for investors, said the people, who declined to be identified because the information isn’t public. KKR is offering a management fee discount to investors that join the first close, which is targeted for May.

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