KKR & Co has expanded its executive leadership team with the appointment of Joe Bae (pictured), and Scott Nuttall as Co-Presidents and Co-Chief Operating Officers and members of the firm’s Board of Directors.
Henry Kravis and George Roberts will continue to lead the firm they founded as Co-Chairmen and Co-Chief Executive Officers.
In their new roles, Nuttall and Bae will jointly be responsible for the day-to-day operations of KKR.
Henry Kravis and George Roberts, Co-Chairmen and Co-CEOs of KKR, say: “Today’s announcement is about the future and ensuring we have the right team and leadership structure to serve our clients and partners for decades to come.
“Having joined the firm together over 20 years ago, Joe and Scott have a strong foundation of trust, professional respect and personal friendship that is critical for success. They think and act globally, they embody KKR’s core values, and they are two of our most accomplished business leaders, with proven track records of managing large teams, building new businesses and driving value for our fund investors and our public unitholders.”
Under the new leadership structure, Bae and Nuttall will be jointly responsible for the execution and implementation of KKR’s strategy, but will have different areas of primary responsibility. Bae will focus on KKR’s global private equity businesses as well as the Firm’s real asset platforms across energy, infrastructure and real estate private equity. Nuttall will concentrate on KKR’s corporate and real estate credit, capital markets, hedge fund and capital raising businesses together with the firm’s corporate development, balance sheet and strategic growth initiatives.
Joe Bae and Scott Nuttall says: “KKR is a truly special firm and we are honoured to join Henry and George as part of the executive leadership team to help lead KKR in its next stage of growth and development.”
As part of this transition, Alex Navab announced he is planning to step down from his role as Head of Americas Private Equity and retire from KKR after an orderly transition.
Commenting on this, Henry Kravis and George Roberts, says: “Alex has been an outstanding investor and a remarkable leader of our flagship Americas private equity business over the last decade. He has built a strong team of investors and led many successful investments over the course of his 24-year career at KKR. We thank Alex for his many contributions and know his management and investment capabilities will benefit any enterprise he joins.”
Separately and unrelated, KKR Chief Administrative Officer Todd Fisher announced his intention to depart from KKR at the end of the year to pursue a second career outside the investment arena.
“Todd has been a deeply committed and highly effective leader and investor who will leave a lasting mark on the firm. We appreciate all he has done to make KKR what it is today and have no doubt he will make an equally profound impact in whatever new career he pursues,” say Kravis and Roberts.
