Kohlberg Kravis Roberts has agreed to sell its 50% interest in a natural gas joint venture with El Paso (NYSE: EP) to Kinder Morgan Energy Partners (NYSE: KMP) for $300 million in KMP common units. The joint venture owns the Altamont gathering, processing and treating assets and the Camino Real Gathering System. El Paso currently owns the other 50% stake in the joint venture. The sale of KKR's stake is expected to close after the completion of Kinder Morgan's (NYSE: KMI) acquisition of El Paso. After both transactions close, Kinder Morgan will own the entire joint venture—50% through Kinder Morgan Energy Partners and 50% directly.