U.S. energy company Kinder Morgan has filed for an initial public offering worth up to $1.5 billion, Reuters reported Tuesday. The news comes three years after the company, which provides pipelines and storage for oil and natural gas, went private in a $14.6 billion management buyout.

Kinder Morgan says its existing investors, which include the Carlyle Group, Goldman Sachs and Highstar Capital, will sell all of their common stock in the deal, which won't generate any proceeds for Kinder Morgan.

The offering is a sign that the financial crisis may be easing, with private-equity firms seeing more opportunities to sell shares back to the public. Consultant Booz Allen Hamilton (BAH), which also counted Carlyle as one of its investors, went public last week, while Harrah's Entertainment last week scuttled its IPO plans, according to Reuters.

Kinder Morgan, which owns a stake in Kinder Morgan Energy Partners (KMP), posted a loss for the first nine months of this year -- in spite of a 20% growth in revenue -- because of equity-investment declines, according to The Wall Street Journal.

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carlyle, gs.....always the participants

November 24 2010 at 5:33 AM Report abuse rate up rate down Reply