Global private equity giant KKR has named David Petraeus as Chairman of its Middle East business and established a dedicated investment team focused on identifying and executing opportunities across the Gulf Cooperation Council (GCC) region, according to a report by Reuters.
The move underscores KKR’s long-term commitment to the Middle East, where governments are increasingly implementing pro-investment policies and economic diversification programmes aimed at reducing reliance on hydrocarbons. These structural reforms, combined with favourable demographic trends, are creating a fertile landscape for private capital.
“We view the Middle East as an increasingly important destination for investment, with structural reforms, pro-investment policies, and favourable demographic trends accelerating economic growth,” said KKR Co-CEOs Joe Bae and Scott Nuttall.
KKR’s new regional investment team will be led by Julian Barratt-Due and will pursue investment and partnership opportunities throughout the region, with a particular focus on GCC countries. The firm already maintains offices in Dubai and Riyadh.
Petraeus, who previously served as CIA Director and Commander of US forces in Iraq and Afghanistan, brings deep geopolitical insight and leadership experience to his new role. He joined KKR in 2013 as Chairman of the KKR Global Institute.
The expansion comes as several other global private equity players bolster their Middle East footprint. General Atlantic opened an Abu Dhabi office in 2023, Permira announced a Dubai office earlier this year, and GIP, backed by BlackRock, recently launched operations in the region.
In February, KKR committed more than $5bn alongside Dubai-based Global Data Hub to expand data centre infrastructure across the region, reinforcing its focus on long-term, transformational investments.
KKR, which currently manages over $550bn in assets, has set a target of surpassing $1tn in AUM over the next five years.
