KKR & Co. Inc. ( KKR ) shares are trading lower premarket on Friday after the firm partnered with BBVA to advance decarbonization efforts.

BBVA committed $200 million to KKR’s Global Climate Strategy, which focuses on large-scale investments that aid the transition to a low-carbon economy.

Also Read: KKR Aims To Replicate European Private Equity Success: Report

The partnership will also explore new climate infrastructure investment opportunities, focusing on energy transition and electrification.

It aims to leverage both firms’ strengths, foster knowledge sharing, and accelerate progress toward shared energy transition goals.

“Large asset managers and international banks are necessary to finance” this transition “in an orderly manner,” BBVA’s Head of Sustainability Javier Rodríguez Soler said in a prepared statement.

Emmanuel Lagarrigue and Charlie Gailliot, co-heads of KKR´s global climate strategy, called the transition to net-zero “one of the biggest investment opportunities of our time.” 

Separately, KKR announced the sale of GeoStabilization International to Leonard Green & Partners for an undisclosed amount.

Also, KKR and the Skip Essential Infrastructure Fund have signed definitive agreements to acquire a 74.25% stake in Queensland Airports Limited for an undisclosed amount.

Investors can gain exposure to the stock via FM Focus Equity ETF ( FMCX ) and EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF .

Price Action: KKR shares are down 0.21% at $131.10 at the last check Friday.

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