KKR names Petraeus as Middle East chair

KKR & Co has appointed former US General David Petraeus as chairman of its Middle East franchise and is setting up a local investment team, the latest major private equity firm to increase its presence in the oil-rich region.

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Mr Petraeus is a former CIA director and was commander of US troops in Iraq and Afghanistan. KKR will look to build on his Middle Eastern network to strengthen ties with top officials and dealmakers in a region that’s home to wealth funds that control trillions of dollars.

The executive is already a partner at the New York-based investment firm and chairs the KKR Global Institute, the in-house division that assesses geopolitical issues and backs the company’s international growth.

Mr Petraeus said he will be spending “considerable time” in the region.