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A pump jack draws oil from the ground near a hydraulic fracturing operation near Bowden, Alta.,
A pump jack draws oil from the ground near a hydraulic fracturing operation near Bowden, Alta.,
(JEFF McINTOSH FOR THE GLOBE AND MAIL)

Karkkainen backing off from day-to-day operations at Kern Partners

Pentti Karkkainen is taking a step back from day-to-day operations at Kern Partners Ltd., the energy-focused private equity firm he co-founded, to sit on the firm’s independent advisory board.

Calgary-based Kern, with $1.1-billion under direct management and $1.5-billion in its co-investment management program, said Mr. Karkkainen will remain on the boards of directors of many of the companies in its portfolio.