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Bailey McCann, Opalesque New York:

One of the most iconic private equity firms has announced what the future will look like without the leaders that make up its name. Today, KKR appointed Joe Bae and Scott Nuttall as Co-Presidents and Co-Chief Operating Officers of KKR and members of KKR's Board of Directors. They will work alongside firm founders Henry Kravis and George Roberts, who will remain as Co-Chairmen and Co-Chief Executive Officers and then take over for them when they retire.

Under the new leadership structure, Bae and Nuttall will be jointly responsible for the execution and implementation of KKR's strategy, but will have different areas of primary responsibility. Bae will focus on KKR's global private equity businesses as well as the Firm's real asset platforms across energy, infrastructure, and real estate private equity. Nuttall will concentrate on KKR's corporate and real estate credit, capital markets, hedge fund and capital raising businesses together with the firm's corporate development, balance sheet, and strategic growth initiatives.

"KKR is a truly special firm and we are honored to join Henry and George as part of the executive leadership team to help lead KKR in its next stage of growth and development," Bae and Nuttall said in a joint statement on their appointment.

As part of this transition, Alex Navab announced he is planning to step down from his role as Head of Americas Private Equity and retire from KKR after an orderly transit......................

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