KKR Launches JV, Targets Multiple Industries
PE firm has tapped former Kaplan Inc. CEO to spearhead its new investment effort
January 26, 2010
KKR & Co., the New York private-equity firm, said Tuesday that it has formed a joint investment partnership with former Kaplan Inc. chief executive Jonathan Grayer.
The partnership, Weld North LLC, will invest in a wide range of businesses, including those that operate in the consumer services, education, media and marketing industries.
Henry Kravis, co-founder of KKR, said the partnership stemmed from a 10-year friendship with Grayer.
It's the latest venture of its kind for KKR, following the joint venture it established with Bertelsmann AG in 2009 called BMG Rights Management.
Grayer, a 17-year veteran of New York-based Kaplan, left the Washington Post-owned company in 2008 after expanding its business into Asia, Australia and Europe through a series of acquisitions.
Simpson Thacher & Bartlett LLP attorneys Gary Horowitz, Tom Lamprecht, Alvin Brown, Steve Todrys and Jenifer Marsh provided counsel to KKR.
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