KKR and Diamondback to acquire Five Point's 70% stake in Deep Blue for $2.1bn
Tuesday, November 10, 2026 · first reported by Private Equity Wire and 3 others
KKR's fifth global infrastructure fund is taking a 50% stake in Deep Blue Midland Basin, a US water management platform in the Permian Basin, in a joint buyout with Diamondback Energy. The two are buying the 70% interest held by Five Point Infrastructure. Diamondback, which already owned 30%, moves up to 50%.
Diamondback and Five Point set up Deep Blue in 2023. The platform handles sourcing, transportation, storage, recycling and disposal of water. Diamondback relies on it to move nearly 2m barrels of water per day.
- Firm
- KKR
- Also named
- Diamondback Energy, Five Point Infrastructure, Deep Blue Midland Basin
- Deal value
- $2.1B
- Asset class
- Private equity, Infrastructure
- Geography
- North America
The summary and fields above are extracted from the published reports and can contain errors. The linked articles are the source of record.
See an error?
Coverage
4 sources- Private Equity WireKKR and Diamondback to acquire Five Point's 70% stake in Deep Blue for $2.1bn
- AltAssetsKKR joins Diamondback in reported $2.1bn acquisition of Five Point’s Deep Blue stake
- IREIDiamondback Energy and KKR to buy Deep Blue Midland Basin from Five Point Infrastructure
- IPE Real AssetsKKR acquires 50% stake in Permian Basin water platform
More on KKR
Everything on this firm →- Calpers doubles investment in Grain Management spectrum deal with SpaceXPrivate Equity Wire
- LS Power to acquire six natural gas power-generation assets from NRG EnergyIREI
- Mubadala Capital acquires minority stake in $5bn secondaries manager LSV AdvisorsPrivate Equity Wire +1
- Marsh to acquire Wilshire Advisors, renewing ties to public pension plan marketPensions & Investments +2
- Brookfield acquires Sydney logistics asset from Goodman for A$203.5mIPE Real Assets
- Macquarie and GIC explore $2bn sale of Philippine geothermal stakePrivate Equity Wire
Got news? Send it to us →