KKR takes a quarter stake in Texan hedge fund BlackGold

Michael Bow
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PRIVATE equity firm KKR yesterday confirmed a deal to take a 24.9 per cent in energy hedge fund BlackGold Capital Management.

The tie-up marks another push into the hedge fund world for KKR despite it recently closing down a $500m long-short equity fund.

BlackGold was founded in 2006 by Erik Dybesland and Adam Flikerski and is based in Houston, Texas.

“We are always looking for exceptional teams with whom we can partner, and this investment marks the culmination of those efforts,” KKR’s Marc Lipschultz said.

The other 75.1 per cent of the business will be held by management, led by Dybesland and Flikerski.

“KKR has nearly three decades of experience investing in the energy sector and maintains a significant presence and technical expertise in the industry,” they said.