KKR's Smidt steps down

A spokesperson confirmed he left at the end of May. Smidt has been replaced by KKR partner Edouard Pillot, who was promoted to head of industrials last year. He remains in his current role and will take on Smidt's responsibilities.

Smidt joined KKR in July 2000, and, in addition to heading up the industrial and energy teams, was also a member of the investment committee within KKR's private equity platform in Europe. Prior to joining, he had worked as an analyst for Goldman Sachs in New York and as an auditor for EY in Cape Town.

Pillot joined the firm in March 2006, having previously worked as an associate for CIBC World Markets in London.

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