Lehman's SWF chief moves on after collapse

by Soren Billing Thursday, 18 September 2008

One of the world’s largest private equity groups, Kohlberg Kravis Roberts & Co (KKR), has taken on the former head of sovereign wealth funds at collapsed US giant Lehman Brothers to head its Middle East operations.

Makram Azar will set up an office for the firm in the region and will begin to recruit professionals to support it, KKR revealed on Thursday.
Azar spent 18 years at Lehman Brothers, most recently as managing director, global head of sovereign wealth funds and chairman of media investment banking for Europe and the Middle East.

He will be responsible for developing the distribution of products in the MENA region and sourcing opportunities for private equity and infrastructure transactions in selected situations.

He will also be exploring global co-investment opportunities with MENA institutions.

“Makram’s extensive experience in the Middle East and North Africa, coupled with his deep knowledge of investors in the region, will allow us to enhance KKR’s presence there,” the company said in a statement.

“This is a key region for KKR and will further extend our global reach and resources.”



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