Key Takeaways
- • KKR has appointed Brian J. Lee, former chief risk officer of Goldman Sachs Group, to its board of directors, per the primary source report.
- • The appointment lifts independent directors to eight of 12 board seats at the alternative asset manager.
- • Lee joined Goldman Sachs in 1994, served as controller and chief accounting officer from 2017 to 2019, and then became chief risk officer.
- • KKR's board already includes co-founders Henry Kravis and George Roberts, co-CEO Scott Nuttall and co-executive officer Joseph Bae.
Summary
KKR has appointed Brian J. Lee, the former chief risk officer of the Goldman Sachs Group, to its board of directors, according to Alternative Credit Investor. The appointment brings the number of independent directors to eight out of a total of 12 board seats at the alternative asset manager.
Lee joins co-founders and co-executive chairs Henry Kravis and George Roberts on the board, alongside Joseph Bae, co-executive officer of KKR, and Scott Nuttall, co-chief executive of KKR, who also hold board positions. Other independent directors include Craig Arnold, previously chair and chief executive of Eaton Corporation; Timothy Barakett, founder and chief executive of TRB Advisors; Mary Dillon, former chief executive of Foot Locker and Ulta Beauty; and Kimberly Ross, former chief financial officer of WeWork and Baker Hughes.
Lee joined Goldman Sachs in 1994. He served as controller and chief accounting officer from 2017 to 2019, with responsibility for external and internal reporting, product control and regulatory capital, before becoming chief risk officer. He was named managing director in 2002 and partner in 2008.
KKR sponsors funds investing in private equity, credit and real assets, and has strategic partners that manage hedge funds. The board announcement follows the firm's launch last month of Akrapoint Commercial Capital, an equipment finance platform, backed by $350m (£261m) of commitments from firm-managed funds through its asset-based finance strategy.
Lee joins co-founders and co-executive chairs Henry Kravis and George Roberts on the board, alongside Joseph Bae, co-executive officer of KKR, and Scott Nuttall, co-chief executive of KKR, who also hold board positions. Other independent directors include Craig Arnold, previously chair and chief executive of Eaton Corporation; Timothy Barakett, founder and chief executive of TRB Advisors; Mary Dillon, former chief executive of Foot Locker and Ulta Beauty; and Kimberly Ross, former chief financial officer of WeWork and Baker Hughes.
Lee joined Goldman Sachs in 1994. He served as controller and chief accounting officer from 2017 to 2019, with responsibility for external and internal reporting, product control and regulatory capital, before becoming chief risk officer. He was named managing director in 2002 and partner in 2008.
KKR sponsors funds investing in private equity, credit and real assets, and has strategic partners that manage hedge funds. The board announcement follows the firm's launch last month of Akrapoint Commercial Capital, an equipment finance platform, backed by $350m (£261m) of commitments from firm-managed funds through its asset-based finance strategy.
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