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American financier and billionaire Henry Kravis of KKR.
American financier and billionaire Henry Kravis of KKR.
(Ryan Taplin/CP)

KKR builds $2-billion war chest for North American energy

KKR Inc., the investment firm led by Henry Kravis and George Roberts, has amassed a $2-billion (U.S.) fund targeting unconventional oil and gas resources in North America.

The New York-based firm said its KKR Energy Income and Growth Fund I attracted a wide array of global investors, including pension funds, sovereign wealth funds, insurance companies and individuals. It will concentrate on joint-venture drilling, acquiring assets and seeking out other “opportunistic” investments, it said.