Global buyout house Kohlberg Kravis Roberts (KKR) has announced the appointment of Lord Clive Hollick as a managing director in the firm’s London office.
Hollick will join the business in April, following his departure as CEO of media business information service provider United Business Media (UBM).
59-year-old Hollick has been group chief executive of UBM since 1996. Following his departure from the publicly listed company, he will join KKR to focus on investments in the media and financial services sector.
Hollick will continue in his roles as non-executive director of global drinks company Diageo and aerospace electronics firm Honeywell, as well as remaining chairman of London’s South Bank Centre, the largest arts centre in Europe.
Speaking to PrivateEquityOnline, Hollick said: 'This gives me the opportunity to do what I most like doing – building businesses and restructuring companies – and I wanted to continue doing that. I've known Henry for a dozen years and am a great admirer of what he and the firm have done.'
Commenting on the appointment, founding partner Henry Kravis said in a statement: “[Hollick’s] expertise and deep knowledge of the media sector will help us to maximise the potential of our media holdings and expand our portfolio.”
Hollick will be based in KKR’s 20-strong London office. Following the decision at the end of last year by Ned Gilhuly to return to KKR’s Menlo Park, California office, Johannes Huth was appointed head of KKR’s European arm.
Since the firm’s presence was launched in Europe in 1998 by Gilhuly and Todd Fisher, KKR has invested $4.4 billion (€3.3 billion) of equity in 15 European companies. The firm manages a $3.1 billion European fund, raised in 2000.