NEW YORK & RIYADH & DUBAI - KKR, the global investment firm, has announced an expansion of its operations in the Middle East, appointing General David Petraeus as Chairman of KKR Middle East and establishing a regional investment team led by Julian Barratt-Due. This move underscores the firm’s long-term commitment to the Middle East, where it has maintained a presence since 2009 and has been actively deploying capital since 2019.
The new team aims to capitalize on the region’s growing economic potential, particularly in the Gulf Cooperation Council (GCC) countries. General Petraeus, a Partner at KKR and Chairman of the KKR Global Institute, brings extensive knowledge of the Middle East, which he will use to strengthen KKR’s presence and partnerships in the region.
Julian Barratt-Due, who has been with KKR since 2016, has played a key role in various infrastructure investments, including a recent agreement to invest in Gulf Data Hub. He will now lead the dedicated investment team in identifying opportunities in the region, with a focus on the Gulf Cooperation Council (GCC) countries.
KKR has also reinforced its Global Client Solutions team in the UAE and Saudi Arabia, with Directors Patricia Bandeira Vieira and Michael de Freitas relocating to the region last year to focus on strategic partnerships and client engagement. The firm’s robust expansion comes amid impressive revenue growth of 41.57% over the last twelve months, demonstrating strong operational momentum. Want deeper insights? InvestingPro offers exclusive analysis and 13 additional ProTips for KKR.
Co-CEOs of KKR, Joe Bae and Scott Nuttall, stated their belief in the Middle East as an increasingly important investment destination, citing structural reforms, pro-investment policies, and favorable demographic trends as accelerators of economic growth.
General Petraeus emphasized the Middle East’s emergence as a leading investment powerhouse, citing its clear vision, innovation, strong fiscal position, and partnership-oriented private sector and governments. He expressed enthusiasm for contributing to the region’s growing global presence.
Barratt-Due highlighted the Middle East’s compelling investment landscape, driven by economic size and growth, demographic trends, and a stable currency and jurisdictional climate. He conveyed excitement about investing long-term capital and partnering with businesses and stakeholders to align with the region’s strategic objectives.
KKR’s previous investments in the region include a strategic partnership with ADNOC in 2019 to create ADNOC Oil Pipelines and the acquisition of a portfolio of commercial aircraft from Etihad Airways in 2020 through Altitude Aircraft Leasing.
This expansion is based on a press release statement from KKR, a firm known for alternative asset management and capital markets and insurance solutions, with a history of supporting growth in its portfolio companies and communities. The company maintains a P/E ratio of 29.03 and has consistently paid dividends for 16 consecutive years, with a 6.06% dividend growth in the last year. For comprehensive analysis of KKR’s valuation and future prospects, access the detailed Pro Research Report available exclusively on InvestingPro.
In other recent news, KKR & Co. is nearing the completion of a deal to acquire Karo Healthcare for approximately $2.7 billion. This acquisition is reportedly in its final stages, although there remains a possibility of delays or the deal not materializing. Additionally, KKR, in collaboration with Japan Investment Corp, announced plans to acquire medical equipment producer Topcon for $2.31 billion. This transaction will be conducted through a tender offer, reflecting a premium over Topcon’s recent stock prices.
In another development, KKR has stepped back from a consortium considering a takeover of Gerresheimer AG, a German company involved in producing medical equipment. The consortium, which includes Warburg Pincus, had previously made a non-binding bid for Gerresheimer. Furthermore, KKR is in advanced discussions to sell its Spanish real estate management firm, Hipoges Iberia SL, to Pollen Street Group Ltd. This potential sale could value Hipoges at approximately $129.5 million.
Lastly, Thames Water has selected KKR to lead its recapitalization efforts. This decision follows a comprehensive evaluation of proposals, though it remains subject to due diligence and regulatory approvals.
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