KKR reshuffles team ahead of new fund launch

Anneken Tappe
04 March 2013

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KKR will see two partners, Jacques Garaialde and Reinhard Gorenflos, depart before raising its next European fund, according to reports.

Garaialde, who joined KKR in 2003, will remain with the firm as a senior adviser. Prior to KKR, he worked for Carlyle and the Boston Consulting Group.

Reinhard Gorenflos, who joined KKR in 2001, was also part of the firm's European portfolio management committee and infrastructure investment committee. He will reportedly commit to philantropic work in Africa.

In December, the firm promoted Silke Scheiber and Philipp Freise to partner positions in the London office, apparently anticipating Garaialde's and Gorenflos's moves.

The firm closed its last Europe-focused buyout fund on €4.8bn, €1.2bn below target, in June 2008.

In its most recent deal, KKR sold its 51% stake in German music management company BMG to the company's co-owner Bertelsman, valuing the business at approximately €1.1bn.

KKR was not yet available for comment.