KKR expands in Middle East

Seven days after setting up shop in Dubai, private equity giant Kohlberg Kravis Roberts & Co has appointed Ambassador Ford M. Fraker, the former US Ambassador to Saudi Arabia, as senior advisor to the firm.

As part of his new role, Fraker will work closely with managing director and head of MENA at KKR, Makram Azar, seeking out investment opportunities in the region.

Prior to KKR, Fraker was chairman of private investment banking firm, Trinity Group. He has more than 30 years of experience as a Middle East banker and until recently was involved in public policy and diplomacy in the region.

KKR was targeting the Middle East and North Africa (MENA) region in 2008. Most recently the firm opened its MENA office in Dubai and was granted a license by the Dubai Financial Services Authority to operate from the Dubai International Financial Centre.