Joseph Bae Wikipedia, Kkr, Net Worth, Age, Harvard, Education, Wife
Joseph Bae Wikipedia, Kkr, Net Worth, Age, Harvard, Education, Wife – This week, co-chairman of KKR & Co. Joseph Bae has been appointed co-CEO of the company, making him the second Korean executive to lead a major global private equity firm after Kew Lee of Carlyle Group. .
Joseph Bae Wikipedia, Kkr, Net Worth, Age, Harvard, Education, Wife
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Scott Nuttall was chosen to succeed Henry Kravis and George Roberts, who helped found the US private equity firm in 1976, as Co-CEO with Bae. Since July 2017, Bae and Nuttall, who joined KKR in 1996, have shared the roles of co-chairman and co-CEO. Kravis and Roberts, 78 and 79 respectively, will be executive co-chairs of the PE company and will oversee $429 billion in assets.
Bae has played a key role in KKR’s entry into Hong Kong and other Asian markets, where other US PE giants such as Carlyle, TPG and Warburg Pincus have established dominance.
Joe Bae will co-lead KKR
He oversaw one of the company’s most lucrative exits: the sale of its Oriental Brewery Co. for Belgian brewer AB InBev for $5.8 billion in 2014, five years after Korea’s Orient Brewery Company acquired it for $1.9 billion in 2009. In addition, He also oversaw major transfer agreements with Japanese companies Hitachi and Panasonic.
In a statement released on Monday, KKR stated that “he is the architect of KKR’s expansion in Asia, building one of the largest and most successful platforms on the market. ” In his late thirties, he moved to Hong Kong in 2005 to lead KKR’s Asia operations, to offset the downturn in the US trading market following the 2007-2008 global financial crisis. .
His selection as Co-CEO comes a year after Kewsong Lee, then co-CEO of Carlyle Group, took control of the US private equity firm as a Director. executive director following the resignation of co-CEO Glenn Youngkin at the end of September 2020.
The company’s balance sheet strategy has been developed and another co-CEO, Nuttall, is responsible for managing KKR’s public listing, according to KKR. In addition, he oversaw the establishment of the company’s capital markets, fundraising and underwriting, as well as the development of KKR’s mass market operations in the credit and hedge fund sectors.
His appointment comes a day before SK E&S Co., South Korea’s largest municipal gas supplier, announced that KKR has been selected as the exclusive negotiator to purchase 2 new preferred shares worth 2 4.4 trillion won ($2 billion). To buy the shares, KKR beat out three other shortlisted bidders: IMM Private Equity, IMM Investment and New York-based EMP Belstar.
Bae also oversaw the $1.67 billion acquisition of Panasonic’s healthcare division, now known as PHC Holdings Corp., in 2014. This week, the Japanese medical device maker will started trading on the Tokyo Stock Exchange.
As of the end of 2020, KKR topped NPS’s ranking of external PE investment companies, surpassing Carlyle and TPG in the number of investment vehicles entrusted with the world’s third largest pension fund, the National Pension Service. (NPS) of Korea.
Bae’s parents, a missionary and a chemist, moved to America when Bae was three years old. He graduated with honors from Harvard University and later landed his first job in the private equity group of Goldman Sachs.
Bae, a baby born in 1973, wanted to be a pianist. According to Forbes, his current net worth is $1.1 billion. He is married to Janice Lee, a writer of Korean descent, whom he met at Harvard. They have four children together.
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Source: vcmp.edu.vn