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KKR Prospects for Natural Gas After Leveraged Buyouts Dry Up

KKR & Co., which led the record takeover of electricity provider TXU Corp. in 2007, is making a new bet on rising energy prices, this time without the leverage.

The private-equity firm is teaming up with David Rockecharlie, previously co-head of the energy group at New York-based Jefferies Group Inc., and Claire Farley, a former adviser to the securities firm, to build an exploration business for unconventional energy, according to a person briefed on the plan. The business would prospect for fuel such as gas trapped in shale and coal beds under parts of Appalachia and Texas, said the person, who asked not to be named because the plan has yet to be formalized.