KKR Expanding in Middle East

Giant private equity group Kohlberg Kravis Roberts (KKR) has announced it is expanding its presence in the Middle East, hiring Makram Azar from Lehman Brothers to head the new venture, according to the National, in UAE. KKR has reportedly committed 1.5 billion Euros (US $2,162,000,000) to focus on oil and gas investments in the region, as well as co-investing around the world with sovereign wealth funds. The move underscores the growing importance of the Middle East a promising region for private equity and venture capital investments and jobs.