KKR’s Franks Departs as Head of UK and Ireland Private Equity
KKR & Co.’s head of private equity in the UK and Ireland, Mark Franks, has left the firm after a decade of service.
Background of Mark Franks
Franks joined KKR in 2013 as a managing director and was promoted to head of the UK and Ireland private equity business in 2018. He was responsible for leading the firm’s investments in the region, including the acquisition of the UK-based insurer Aviva Plc in 2019.
Prior to joining KKR, Franks was a managing director at Goldman Sachs Group Inc. He also held senior positions at the Royal Bank of Scotland Group Plc and Morgan Stanley.
KKR’s UK and Ireland Private Equity Business
KKR’s UK and Ireland private equity business has been active in the region since 2006. The firm has invested in a number of companies, including the UK-based insurance company Aviva Plc, the Irish-based financial services company AIB Group Plc, and the UK-based engineering company Rolls-Royce Holdings Plc.
KKR has also invested in a number of other companies in the region, including the UK-based retailer Marks & Spencer Group Plc, the UK-based energy company SSE Plc, and the UK-based telecommunications company BT Group Plc.
KKR’s Response to Mark Franks’ Departure
KKR said in a statement that it was “grateful for Mark’s contribution to the firm over the past decade and wish him all the best in his future endeavors.”
The firm also said that it is “committed to continuing to invest in the UK and Ireland and will be announcing a new leadership structure for the region in due course.”
Impact of Mark Franks’ Departure
Mark Franks’ departure is likely to have a significant impact on KKR’s UK and Ireland private equity business. Franks was a key figure in the firm’s investments in the region and his departure could lead to a shift in the firm’s strategy.
It is unclear who will replace Franks as head of the UK and Ireland private equity business, but it is likely that the firm will look to appoint someone with a similar level of experience and expertise.
Conclusion
Mark Franks has left KKR after a decade of service as the head of the firm’s UK and Ireland private equity business. His departure is likely to have a significant impact on the firm’s investments in the region and it remains to be seen who will replace him. KKR has said that it is committed to continuing to invest in the UK and Ireland and will be announcing a new leadership structure for the region in due course.