Lehman SWF Banker Heads To KKR
Azar will open PE shop's first office in the Middle East/North Africa region.
September 18, 2008
The exodus from Lehman Brothers has begun.
Makram Azar, an 18-year veteran of the bank who was appointed global head of sovereign wealth funds several months ago, is joining Kohlberg Kravis Roberts as a managing director in charge of operations in the Middle East and North Africa (MENA).
At KKR, Azar will distribute the private equity firm's products in the MENA region and source MENA infrastructure and private equity transactions. He will also open an office for KKR in the region and seek co-investment ventures with MENA institutions.
Makram Azar"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," said KKR co-founders Henry Kravis and George Roberts in a statement. "This is a key region for KKR and will further extend our global reach and resources."
Azar was named Lehman's global head of SWFs, as well as chairman of European and Middle Eastern media investment banking, in April. Prior to that, he was head of European and Middle Eastern media, consumer and retail investment banking. For his most recent role, Lehman relocated Azar from London to Dubai.
(To read an IDD article on the growing importance of the MENA region to investment banks, click here.)
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