Brookfield, KKR, and Blackstone strike $16B deal for Kuwait pipeline stake in largest foreign investment in the country’s history

Three of the world’s largest alternative asset managers just wrote a very large check to Kuwait. Brookfield Asset Management, KKR, and Blackstone have agreed to acquire a 49% stake in a joint venture tied to the Kuwait Petroleum Corporation’s national oil pipeline, in a deal valued at roughly $16 billion. That makes it the largest foreign investment in Kuwait’s history. The deal delivers approximately $8 billion in upfront cash to the state, while KPC keeps majority ownership and operational control of the 320-kilometer pipeline network. What the deal actually looks like The joint venture structure keeps Kuwait at 51% with day-to-day operations. The three investors split the remaining 49%. Goldman Sachs, while mentioned in connection to the transaction due to its growing presence in Kuwait, does not appear to be participating as a direct equity investor in this particular deal. Its involvement likely relates to advisory or broader regional engagement rather than a co-investment alongside the three principals. The pipeline itself stretches 320 kilometers and serves as the connective tissue for the country’s oil production and export operations. Why Kuwait, why now Kuwait has been si...