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Exclusive: Energy and infra heavyweight leaves KKR

John Bookout’s departure comes just a few days after the US firm held a final close on its second infrastructure vehicle.

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Global asset manager Kohlberg Kravis Roberts (KKR) is down one team member since the departure of John Bookout, a managing director of the firm’s energy and infrastructure platform, who was based in Houston, a source told Infrastructure Investor.

The New York-based company did not release a statement and declined to comment, but a search of the KKR website confirmed that Bookout is no longer with the firm. He did not respond to a request for comment.

Bookout joined the firm in May 2008, when KKR decided it was time to begin investing in infrastructure on a global basis. It launched its infrastructure platform and brought in ex-Lazard executive George Bilicic to lead the effort. As senior adviser, a role Bookout also held at energy-focused private equity firm First Reserve, he was to work closely with Bilicic. However, Bilicic left to re-join Lazard five months later.

It is unclear when Bookout was named managing director, but the job title does not necessarily indicate he was head of the Houston office. Within KKR’s organisational structure, “members” – the equivalent of partners at other firms – rank higher than managing directors.

According to the firm’s website, KKR currently has three energy and infrastructure partners at its Houston office: Robert Antablin, Claire Farley and David Rockecharlie.

Bookout’s departure comes just a few days after KKR held a final close on its second infrastructure vehicle on $3.1 billion, slightly above its hard cap. With the closing of the fund, the firm now has approximately $5.6 billion in infrastructure assets under management. It has also deployed about $1 billion through co-investments.

Like its predecessor, KKR Global Infrastructure Investors II will make investments in the energy supply chain, water systems, roads, railways, airports and communications networks, focusing on OECD countries. KKR’s first infrastructure fund closed in 2012 on $1 billion.

In addition to infrastructure, KKR also invests in private equity, real estate, credit and hedge funds. As of March 31, its assets under management totalled $99.1 billion.