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Nuttall, Bae emerge as favorites to succeed Kravis and Roberts as KKR co-CEOs

16 Jul 2014

nutttallllScott Nuttall and Joseph Bae are understood to be the leading candidates to succeed co-CEOs and co-founders of private equity major KKR Henry Kravis and George Roberts.

Interviews with more than half a dozen current and former KKR executives showed that the firm is likely to preserve the co-chairman and co-CEO jobs, sources told Reuters.

KKR’s head of global capital and asset management group Nuttall, pictured, and Bae, who oversees the firm’s operations in Asia, are the most likely people to take those spots, said the people.

Other candidates include head of KKR’s Americas private equity business Alexander Navab, chief administrative officer Todd Fisher, global head of energy and infrastructure investments Marc Lipschultz and head of KKR’s operations in the EMEA region Johannes Huth.

Kravis and Roberts each have a net worth of around $5bn and hold a combined stake of nearly a quarter of the firm.

Last month Roberts told an investment management committee meeting of the Teacher Retirement System of Texas that he and Kravis were thinking of putting new leaders in place and staying on as chairmen for a while, said the report.

Last month AltAssets reported that KKR was raising its second fund targeting the mid-market lending space.

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