Samson deal made Oklahoma one of top 2011 recipients of private equity funds
Oklahoma ranked fifth among states for the amount of private equity investment it attracted, according to a report issued last week. One deal represented most of the $8.7 billion private equity spent in the state.
One big deal helped boost Oklahoma into the top five among all states in the amount of private equity invested in local firms, according to recent report.
KKR & Co.'s $7.2 billion purchase of most of Tulsa-based Samson Investment Co. last year represented the bulk of the $8.7 billion in private equity funds invested in Oklahoma last year, according to estimates in a report issued last week by the Private Equity Capital Council.
The Samson deal was the year's biggest private equity takeover of a private company, and the largest ever involving an oil and gas producer, according to data compiled by Bloomberg.
A big deal
In 2010, Oklahoma did not rank among the top 20 states in private equity investment, based on the council's previous report. The financial details of a significant number of private equity transactions are not public, so the report understates the level of investment, said Bronwyn Bailey, the council's vice president of research.
“We know there are other deals out there that we don't know the value,” Bailey said. “The number of transactions is probably more correct.”