Tim Franks, the head of KKR & Co’s private equity business in the UK and Ireland, has decided to quit just months after the firm closed it latest European buyout fund with $8bn in capital commitments, according to report by Bloomberg.
Tim Franks, the head of KKR & Co’s private equity business in the UK and Ireland, has decided to quit just months after the firm closed it latest European buyout fund with $8bn in capital commitments, according to report by Bloomberg.
Franks, a partner who also ran KKR’s private equity consumer team in Europe, the Middle East and Africa, was involved in several major deals since going to KKR from rival Advent International in 2017, including the firm’s investment in haircare brand Wella and the acquisition of Unilever Plc’s margarine and spreads business.
Franks also worked on KKR’s $2.7 billion – including debt – acquisition of sustainability consultancy ERM Group in 2021, as well the firm’s deal to buy compliance provider Citation Group in 2020.
According to data from Bloomberg, KKR announced $29 billion of takeovers in Europe last year, second only to Blackstone at $45 billion.
