Co-founders of the KKR investment fund resign from the posts of directors of the company

by time news

American investment fund KKR – one of the most famous investment companies in the world – has announced that its co-CEOs Henry Cravis and George Roberts are stepping down. Their positions will be taken by Joe Bae and Scott Nuttall, they have been executive co-directors of the investment fund since 2017, and generally have been with KKR since the 1990s. Messrs Cravis and Roberts will retain their positions as executive co-chairs of the fund’s board of directors.

Henry Cravis and George Roberts co-founded KKR in 1976 with Jerome Kohlberg, who left the company ten years later to found his own investment fund, Kohlberg & Co. Messrs Cravis and Roberts have remained in the leadership of KKR all these years.

KKR invests in various alternative assets, including investments in private companies, energy and infrastructure, real estate, etc. The fund is especially famous for its acquisitions of various companies: one of the latest deals is the purchase in February of the insurance company Global Atlantic Financial Group for $ 4.4 billion, and the most famous transaction of KKR remains the acquisition in 1988 of the American food and tobacco concern RJR Nabisco for $ 31.4 billion (the book “Barbarians at the Gates” was even written about this, which was later filmed).

As of June, KKR managed assets totaling $ 429 billion, making the fund one of the largest asset managers, although it lags far behind its main competitor Blackstone, which manages assets of more than $ 680 billion.

Yana Rozhdestvenskaya

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