KKR has hired ex-CIA chief David Petraeus to head the private equity heavyweight’s newly launched Global Institute.
The unit will focus on economic research and public policy in emerging markets. KKR said it will help its portfolio companies to expand globally and serve as an outlet for publishing views from portfolio managers and industry experts.
Petraeus will also support KKR’s investment teams in due diligence process, especially when it is considering investing in new geographies.
KKR’s co-founder Henry Kravis said, “As the world changes and we expand how and where we invest, we are always looking to sharpen the ‘KKR edge.’
“With the addition of General Petraeus, we are building on the work we have done to understand the investment implications of public policy, macro-economic, regulatory and technology trends globally.
“We are pleased to bring all of this expertise together under one umbrella, the KKR Global Institute, to deliver the best of KKR’s insights for our investors.”
Earlier this year it was reported that Petraeus, who is friends with Kravis, was in talks about a possible role at the firm.
Petraeus resigned as director of the CIA in November last year after his affair with his biographer Paula Broadwell was exposed by an FBI investigation.
Other high profile appointments made by KKR included former Asda CEO Tony De Nunzio, ex-US ambassador to Saudi Arabia Ford M. Fraker and ex-Morgan Stanley chairman John Mack, which all serve as the firm’s senior advisors.
Earlier this month AltAssets reported that KKR was set to close its North America Fund XI by the end of this year and expected to hit a final close of $8bn in September after two years on the road.
KKR and fellow buyout firm Silver Lake have recently placed bids for TV streaming site Hulu.
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