NEW YORK - Private equity firm CCMP Capital Advisors said on Tuesday it hired former Anadarko Petroleum Corp Chief Operating Officer Karl Kurz to help with the firm's energy investments.
CCMP said Kurz joined the firm last week as a managing director. Along with Chris Behrens, he will serve as co-head of CCMP's energy group.
For the last 2 years we've been net sellers of capital, so we think its a good time to look to build up the energy portfolio, Behrens said in an interview.
With his operating background and skills we can now be looking at investment opportunities that have a little bit more of an operational bent, Behrens said.
CCMP was spun off of JPMorgan Chase & Co in 2006, and the firm's partners have been investing in energy since 1990.
Kurz, who left Anadarko in February after 9 years, said he would be looking mostly at domestic assets and would likely consider all classes of energy assets.
Kurz is the second top executive CCMP has brought on board this year. The firm hired former Dow Jones chief Richard Zannino in July. (Reporting by Michael Erman)