News Column

Reports: KKR Names Alexander Navab Sole Head Of Americas Private Equity

June 26, 2014



WASHINGTON (dpa-AFX) - Private equity firm Kohlberg Kravis Roberts & Co. L.P. (KKR) has appointed Alexander Navab as sole head of the company's Americas private equity business, according to media reports on Thursday, citing a memorandum sent by the company to investors.

Navab, aged 48, has previously co-headed the business with Michael Michelson since 2008. The company reportedly expects the management change to simplify its management structure and also boost its focus on performance and innovative investing.

Michelson, aged 61, will now focus on KKR's investing and portfolio company management. He will continue to serve on the company's management committee and the Americas private equity group's investment committee.

Navab joined KKR in 1993. Based in New York, he also heads the company's media and communications investment team in the U.S. In addition, Navab serves as the Chair of the Americas Private Equity Investment Committee, is a member of the Americas Portfolio Management Committee, and serves on KKR's Special Situations Investment Committee.

Prior to joining KKR, Navab served at James D. Wolfensohn Inc., where he was involved in mergers and acquisitions as well as corporate finance advisory work. From 1987 to 1989, he served at Goldman, Sachs & Co. (GS), where he worked in the Investment Banking Department.

Michelson joined KKR in 1981 and is based in the company's office at Menlo Park, California. He began his career at law firm Latham & Watkins LP.

Michelson has reportedly played a key role in some of KKR's biggest acquisitions, including its $32.1 billion takover of hospital operator HCA Holdings Inc (HCA) in 2006 and its $11.4 billion acquisition of orthopedic products maker Biomet Inc in 2007.

KKR closed Thursday's trading at $23.87, up $0.25 or 1.06 percent on a volume of 1.24 million shares.


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Source: dpa-AFX International Compact


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