Mar 14, 2022

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CVC Capital Partners (“CVC”) today announced that Steve Koltes, Co-founder and Co-Chair, will be stepping down from an active role effective October 1st, 2022, to focus on his private interests. He will remain on CVC’s Board of Directors in a non-executive capacity, and the business will continue to be managed by CVC’s board and the Managing Partners of the firm.

Steve joined CVC’s predecessor, Citicorp Venture Capital London, in 1988. In 1993, he and his colleagues including his fellow Co-Chairs Donald Mackenzie and Rolly van Rappard established CVC Capital Partners. Since then, CVC has grown into one of the world’s leading private equity and investment advisory firms with a network of 25 offices and approximately US$125 billion of assets under management across six private equity, secondary and credit strategies.

The CVC  Board said: “In all his years with the firm Steve has been a tower of both wisdom and determination and will be missed by all of us. He leaves CVC as a world-leading investment firm with a superb team and a wealth of opportunities for further growth.”

Donald Mackenzie, Co-Founder and Co-Chair of CVC, said: “Steve and I have been good friends, business partners and fellow deal-makers from the very earliest days of CVC. I will greatly miss his balance and his stewardship of the culture of CVC, and I know that everyone in CVC feels the same.”

Rolly van Rappard, Co-Founder and Co-Chair of CVC, added: “Steve is my close friend and collaborator both inside CVC and on a personal level. Over our 34 years of shared history, my colleagues and I always turned to him as a voice of conscience for the firm. He has chosen to move on with the business in its best condition ever. While his decision is understandable, there is no doubt that we all will miss him very much.”

Steve Koltes, Co-Founder and Co-Chair of CVC, commented: “CVC outgrew a dependence on any single individual or group of individuals long ago. The firm attracts, motivates and energises a collection of talent second to none. For everything I can do well, there are dozens in the firm who can do it better. After 34 glorious years with this very special place, that’s the best sign that my job is done.”

EQT Future is proud to announce the appointment of three high-caliber business executives with strong impact expertise to its Mission Board. The purpose of EQT Future’s Mission Board is to provide external objectivity to the fund’s strategic direction and set the bar high for its commitment to drive positive impact. The Mission Board will be a close sparring partner to EQT Future’s Investment Advisory Team and will challenge and support them throughout the fund’s investment processes

The individuals joining the Mission Board are Ho Ching, recently retired CEO of Temasek; Naina Lal Kidwai, former Country Head of HSBC India; and Svein Tore Holsether, President and CEO of Yara International. Hedda Pahlson-Moller, Co-founder and CEO of TIIME.org has been appointed Impact Director and will be responsible for coordination of the Mission Board and the development of the EQT Future fund’s impact objectives.

The new members, each of whom bring a wealth of experience from heading global corporations and NGOs, are joined by the Mission Board’s previously announced co-chairs Paul Polman, former CEO of Unilever, UN Sustainability Ambassador, and co-founder of IMAGINE, and Jacob Wallenberg, Chairperson of Investor AB and vice Chairperson of ABB and Ericsson.

EQT Future was launched in October 2021 with the ambition to elevate EQT’s platform-wide commitment to making a positive impact. The fund’s impact-driven strategy is built on three decades of future-proofing companies and it applies EQT’s active ownership model to accelerate sustainable transformation of companies while creating attractive risk adjusted returns.

New appointments

• Ho Ching, board member. Ho is the former CEO of Temasek and is regarded highly for having transformed Temasek from a Singapore-focused firm into a leading global investment organization. In 2007, TIME Magazine named Ho as one of the “100 most influential men and women who shaped the world”, and Forbes ranked her third on its annual list of the world’s most powerful women. Ho is the the designated Chairperson of Temasek Trust, a philanthropic asset manager, and she also supports numerous community service and charitable organizations within education, healthcare and the welfare and development of children. Ho is a Singaporean native.

• Naina Lal Kidwai, board member. Naina is the former Country Head of HSBC India, Executive Director on the board of HSBC Asia Pacific, and Head of Investment Banking at Morgan Stanley India. She served as Non-Executive Director of Nestlé’s board for 12 years until 2018. In 2015, she founded the NGO India Sanitation Coalition, which focuses on behavioral change to promote clean habits, starting with educating school children about safe sanitation and hygiene practices. Naina is also a board member and member of the Health, Safety & Sustainability Committee of Holcim. She was the first Indian woman to graduate from Harvard Business School and today she serves as a Global Advisor to the university. Naina is an Indian native.

• Svein Tore Holsether, board member. Svein Tore is the President and CEO of Yara International, the world’s leading fertilizer company and a provider of environmental solutions. He was in 2021 elected as the President of the Confederation of Norwegian Enterprise (NHO). Svein Tore is a passionate promoter of the SDGs and is a Board member of the World Business Council for Sustainable Development (WBCSD) and former Chairperson of the Food & Nature program for WBCSD. He is a member of the Alliance of CEO Climate Leaders at the World Economic Forum, and also serves as the Chair of the International Fertilizer Association (IFA). Svein Tore serves as commissioner or board member in multiple international SDG-related organizations and working groups, including being a co-founder of Generation Africa. Svein Tore is a Norwegian native.

• Hedda Pahlson-Moller, Impact Director. Hedda is the Co-founder and CEO of TIIME.org, an advocacy, advisory and education provider focused on impact investing, sustainability and diversity. Hedda serves as an advisor within sustainable development and sustainable finance to the Government of Luxembourg. She is also an adjunct Professor of Impact Economy and Social Entrepreneurship at Sacred Heart University, and serves as an independent Board Director to family offices, private and public equity funds that steer their capital to positive impact. Hedda is a Swedish-Canadian, and resident in Luxembourg.

Paul Polman, Co-chair of the EQT Future Mission Board, said, “We are at a crossroads where the cost of inaction will be higher than the cost of action, and companies must ask themselves which path they will take. To me, EQT has clearly chosen its route. By placing impact at the focal point of all investment decisions, EQT Future is leveraging the power of private equity to support businesses that can accelerate transformational change for the benefit of the environment and society at large. As co-chair of EQT Future’s Mission Board, I am very excited to be joined by our new members who all share this mindset and are committed to help solve societal challenges.”

Anders Misund, Partner and Head of EQT Future, said, “We are honoured to welcome such seasoned executives to join EQT Future’s Mission Board. Their collective experience from leading multinational corporations and ESG-oriented NGOs is highly complementary and will empower the EQT Future fund in making more conscious and impactful investment decisions.”

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 73.4 billion in assets under management across 28 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
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Augments commitment to expanding access to KKR’s investment strategies for individual investors

NEW YORK–(BUSINESS WIRE)– KKR today announced the appointment of Todd Builione as Global Head of Private Wealth. In this newly created role, Mr. Builione will oversee the firm’s strategic priority of building its private wealth distribution platform to expand access to KKR’s alternative investment strategies for individual investors globally.

As Global Head of Private Wealth, Mr. Builione will oversee KKR’s regional private wealth leads Dan Parant and Doug Krupa in the United States, Markus Egloff in APAC and Mark Tucker in EMEA, as well as the newly created Global Private Wealth Product Strategies effort led by Mr. Krupa. KKR’s private wealth team is an integral part of the firm’s Client & Partner Group, led by Eric Mogelof, and focuses on building high-quality, democratized investment solutions to meet the needs of individual investors, as well as growing the firm’s relationships with leading wirehouses, private banks, independent/regional broker-dealers, registered investment advisers (RIAs) and fintech platforms. The appointment reinforces KKR’s commitment to serving the approximately $175 trillion global private wealth market by delivering customized products and increased access to KKR’s investment strategies.ⁱ

Joe Bae and Scott Nuttall, Co-Chief Executive Officers of KKR, said: “Over the past decade, Todd has led a number of KKR’s important business priorities, including launching our strategic partnership with Marshall Wace and being instrumental in the growth of our Credit and Capital Markets businesses. We believe the addition of a senior leader with a global focus will be additive to the success of our global private wealth effort, a critical component of our growth strategy and a big opportunity for the firm.”

KKR currently manages approximately $50 billion in private wealth assets through relationships with distribution partners and a large network of Financial Advisors and RIAs. In recent years, between 10 and 20 percent of new capital raised annually by KKR has come from private wealth. This is expected to grow to 30 to 50 percent of annual fundraising over the next several years, driven by investments the firm is making across sales and marketing, distribution, technology, product creation and education, as well as the continuation of KKR’s long history of investment success. Today, KKR’s private equity, credit and real estate investment strategies are accessible for individual investors through a suite of KKR-sponsored and third-party continuously offered registered funds.

“The combination of a low yield environment, new technology and innovative investment structures is creating an inflection point in the industry and we see individual investors poised to significantly increase their allocations to alternatives in the coming years,” said Eric Mogelof, Global Head of KKR’s Client & Partner Group. “Todd’s extensive knowledge of KKR’s investment strategies and embodiment of our culture make him the ideal partner to lead our global private wealth effort, ensuring that all of our investors continue to receive the best of what KKR has to offer.”

Todd Builione joined KKR in 2013 and is a Partner who most recently served as President of KKR Credit and Markets. In this role, he helped lead the development of the firm’s credit business and capital markets franchise. He also serves on the firm’s Distribution Heads Committee, Risk & Operations Committee and Inclusion & Diversity Council. Mr. Builione serves on the Board of Directors of Marshall Wace, a liquid alternatives provider in which KKR is a strategic partner, and the Board of Directors of FS KKR Capital Corp., a business development company which trades on the NYSE. Prior to joining KKR, Mr. Builione served as President of Highbridge Capital Management and CEO of Highbridge’s hedge fund business.

“I am excited to be a part of our global team focused on making KKR’s investment strategies available to a broader group of investors,” Mr. Builione said. “Alternative investments are an important part of a diversified portfolio and individual investors have historically been under allocated to private markets due to the structural barriers to entry. As we continue to build our private wealth platform we will continue to maintain the same commitment to thoughtful product development and exceptional client service that has been critical to KKR’s success for more than four decades.”

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

ⁱ Source: PwC Asset & Wealth Management Revolution: Embracing Exponential Change

View source version on businesswire.com: https://www.businesswire.com/news/home/20220125006274/en/

Media
Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

NEW YORK, NEW YORK – JANUARY 25, 2022 – Blackstone Inc. (NYSE: BX) today announced the appointment of Kurt Summers, Jr., former City Treasurer of Chicago, as Head of Public-Private Partnerships within Blackstone’s Infrastructure business. Kurt Summers has a more than twenty-year career spanning world-class institutions in both the private and public sectors, leveraging expertise in finance, institutional investing, complex problem-solving and market-leading innovation. In this role, Kurt will focus on investment strategies in partnership with local governments, civic and labor organizations, and broader stakeholders to help advance local infrastructure priorities, with a keen focus on advancing Blackstone Infrastructure’s Environmental, Social and Governance (ESG) efforts.

Commenting on the announcement, Sean Klimczak, Global Head of Infrastructure at Blackstone, said: “We’ve been pleased to have Kurt as an exceptional advisor to the firm and we are excited to welcome him to Blackstone Infrastructure Partners. His extensive experience across the public and private sectors as well as his expertise in ESG will be invaluable to us and our investors.  Blackstone Infrastructure remains dedicated to partnering with local and state governments – they are vital to ensuring infrastructure projects achieve the goals of their communities and stakeholders – and we look forward to expanding on these efforts with Kurt.”

Commenting on the announcement, Kurt Summers, Jr., said: “I am excited to join Blackstone’s world class infrastructure team. Blackstone Infrastructure is an innovator in the sector, and as an investor, I look forward to partnering with government entities, asset owners, local communities, and other stewards of public assets to leverage Blackstone’s capital, experience and commitment to ESG to further develop American Infrastructure.”

Prior to joining Blackstone Infrastructure, Summers served as a Senior Advisor to Blackstone where he provided insight and strategic direction around various investment opportunities, capital strategies and existing portfolio companies. He also serves as an independent director of L&F Acquisition Corp. (NYSE: LNFA).

From 2014 to 2019, Summers served as Chicago’s City Treasurer. Summers oversaw the development of one of the most comprehensive Environmental, Social, and Governance (ESG) integration strategy of any major city in the world, integrating ESG into 100% of its investment decisions on corporate, agency and municipal fixed income securities.  In addition, during his tenure as Treasurer, Chicago achieved a carbon-neutral investment portfolio and became a signatory to the United Nations-supported Principles for Responsible Investment. Summers also served as both Chairman of the Chicago Infrastructure Trust and Chairman of the Chicago Community Catalyst Fund, a first-of-its-kind $100 million local investment fund focused on smaller private equity, private debt, growth equity and real estate investments in Chicago neighborhoods.

Prior to becoming Treasurer of the City of Chicago, Summers served as a Senior Vice President at Grosvenor Capital Management, where he helped lead the firm’s strategy & business development efforts and served as a member of the Office of the Chairman. Summers began his career at McKinsey & Company and later worked as an investment banker at Goldman Sachs.

Summers received a Bachelor of Science in Business Administration with Management Distinction High Honors in Finance and International Business, with a minor in East Asian Studies, from Washington University in St. Louis. He also holds a Master of Business Administration from Harvard Business School.

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $731 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact

Paula Chirhart
Paula.Chirhart@Blackstone.com 
347-463-5453