Samson Resources Corp., which is preparing to enter bankruptcy by Sept. 15, is KKR’s second big energy buyout to blow up. Last year Energy Future Holdings Corp. sought court protection. The two debacles could vaporize most of the roughly $5 billion that investors in a KKR (Kohlberg Kravis Roberts) private-equity fund and the firm sank into the deals.
The plunge in energy prices has walloped the private-equity and hedge fund industries. Since mid-2014 these firms have seen more than $17 billion erased from select public energy producers, according to data compiled by Bloomberg. Apollo Global Management LLC, Riverstone Holdings and Carlyle Group LP are among those suffering setbacks.