KKR's Energy Chief Lipschultz Leaves To Start New Fund

Abstract

As one of the world's largest private equity firms, KKR, which managed $98.7 billion as of the end of September, has made several big energy investments under [Marc Lipschultz]. But it is also nursing losses. Its Natural Resources Fund had a negative year-to-date return of 33% as of Oct. 27, KKR said in its most latest quarterly earnings.

"Knowing Marc as well as we do, we have every confidence his new venture will be a great success and we look forward to KKR doing business with Marc's new firm," KKR founders George Kravis and Henry Roberts said in the memo on Feb. 2. - Reuters