Deals

KKR adds third infrastructure advisor ahead of fundraise

The buyout firm, set to list on the New York Stock Exchange later this year, has added John Bryson, former Edison International chairman and chief executive, as senior advisor for its infrastructure initiative. KKR announced its infrastructure initiative in May and is reportedly raising a $5bn infrastructure fund.

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The former chairman and chief executive of Edison International, John Bryson, has joined Kohlberg Kravis Roberts as a senior advisor to the firm’s infrastructure team.

Bryson retired from his position at Edison International, which he had held since 1990, at the end of last month. Edison International is the parent company of regulated electric utility Southern California Edison and competitive power generation business Edison Mission Group. Bryson joined Edison in 1984 by way of Southern California Edison.

His previous positions include partner at law firm Morrison & Foster, president of the California Public Utilities Commission, chairman of the California State Water Resources Control Board and co-founder of US environmental organisation Natural Resources Defense Council.

KKR co-founders Henry Kravis and George Roberts issued a statement noting the value of Bryson’s experience building on and improving the assets and services of a large, complex, regulated business.

In May, KKR made public plans to launch a global infrastructure initiative headed by former Lazard managing director George Bilicic. Bilicic advised TXU, a Texan energy company, on its $45 billion buyout by a group of investors led by KKR and TPG.

The infrastructure team will have a presence in Europe, Asia and draw on the expertise of KKR’s energy, power and natural resources group.

The firm is planning to raise a $5 billion (€3.2 billion) infrastructure fund, the Financial Times reported in May. “For the time being KKR will invest in infrastructure from existing funds,” an unnamed source told the UK newspaper.

Bryson will join former McKinsey & Company director John Bookout and Clint Johnstone, former chief financial officer of civil infrastructure company Bechtel Group, as advisor to the infrastructure team.