GO
Loading...

Enter multiple symbols separated by commas

KKR Names Ex-CIA Head Petraeus as Chairman of New Institute

David Petraeus
Getty Images
David Petraeus

Kohlberg Kravis Roberts & Co. has appointed former CIA Director David Petraeus as chairman of the newly created KKR Global Institute, which will study the investment implications of global macroeconomic, social and geopolitical issues.

Petraeus will also support KKR's investment teams in the diligence process, particularly in considering investments in new geographies, the private investment firm said Thursday.

Petraeus was credited with helping pull Iraq from the brink of an all-out civil war as commander there and President Barack Obama turned to him to lead U.S. forces in Afghanistan before moving to him to the CIA in 2011.

Petraeus resigned as head of the CIA in November, saying he had engaged in an extramarital affair.

The sex scandal involving Petraeus and his biographer Paula Broadwell, an Army reserve intelligence officer who is also married, provided fodder for comedians and triggered a media storm that followed his confession and resignation.

It was a stunning downfall for a revered military man who was seen as one of the top American leaders of his generation and was once considered a potential contender for the White House.

KKR, which has more than $78 billion in assets under management, has been involved in some of the biggest private equity buyouts in history including the $45 billion takeover of Texas power producer TXU, now known as Energy Future Holdings, in 2007.

KKR's other investments include hospital operator HCA Holdings, Toys R US, and Internet domain registration company Go Daddy Group.

Private equity still accounts for most of KKR's assets under management, but the firm has been diversifying into credit and hedge funds.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Dr. Palmer paid $50,000 to hunt lion Cecil

    Minnesota dentist Dr. Walter Palmer was one of thousands who go to sub-Saharan Africa for trophy hunts. CNBC's Robert Frank reports Dr. Palmer said he did not know Cecil was famous or the hunt was illegal.

  • Moving fast to partner with Netflix: Marriott CEO

    Marriott International CEO, Arne Sorenson, discusses apprehension in the market, mergers, and business growth.

  • WiFi via drones

    Facebook wants to keep growing and has designed a drone that will provide Internet service in remote areas. CNBC's Julia Boorstin reports.