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UBS targets raises capital to invest in $1.5bn KKR energy fund

20 May 2013

Swiss bank UBS is reportedly raising a specific investment vehicle to invest in KKR’s $1.5bn asset-focused energy investment fund.

UBS is working to receive commitments to its AlphaKeys KKR Energy Income Fund to then go on to invest in the newly-formed KKR Energy Income & Growth Fund I LP, according to a report in Dow Jones’ LBO Wire.

The newswire cites documents that show KKR is charging a management fee of 1.5 per cent, with carried interest of 15 per cent.

In March, rumours circulated that the KKR Energy Income & Growth fund will be used by the US-based investor to form drilling partnerships.

The new entity will focus on fossil fuels as investors increasingly look to cash in on the expected shale gas boom.

The firm is said to be aiming for steady income and distributions for investors, and will invest in invest in minerals and royalties, as well as mezzanine debt, Bloomberg previously reported.

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