An Abu Dhabi-based alternate investment fund, Lunate, has acquired a 40 percent stake in ADNOC's oil pipeline network from BlackRock Inc. and KKR & Co., as announced in a statement on Wednesday. This strategic move, backed by sovereign wealth fund ADQ, marks a significant development in the energy investment landscape. While the terms of the deal were not disclosed, previous reports by Bloomberg News suggest that the stake could be valued at over $4 billion, including debt.

This transaction underscores the continued interest of global investors in the Middle East's energy infrastructure sector. BlackRock and KKR originally acquired their stake in Adnoc Oil Pipelines five years ago, marking a historic milestone as the first investment by foreign asset managers in the infrastructure of a state-owned oil producer in the region.