Global buyout house KKR has appointed industry veteran Timothy Franks to lead its coverage of the consumer and retail industries in Europe, Africa and Middle East, according to the firm.
Franks will take up the position in the firm’s London office on 1 February 2017. As well as working with the consumer and retail team, he will also support the UK investment team and sit on the European private equity investment committee.
Franks, who has two decades of experience in the industry, spent 17 years at fellow global firm Advent International before stepping down at the end of June amid rumours he was planning to launch a private equity firm of his own.
At Advent Franks was head of the European retail, consumer and leisure team and a member of the European investment committee.
Franks moved to New York in 2010 to lead the launch of Advent’s office there. He remained in New York until 2013, during which time he built up the firm’s North American technology practice.
“[Franks’] impressive track record of leading successful investments in both Europe and North America, in particular within the consumer & retail sectors, will be a valuable addition to KKR's strong private equity team in Europe,” said Johannes Huth, head of EMEA.
KKR’s latest European vehicle, the 2014-vintage KKR European Fund IV, closed on €3.36 billion, according to PEI data.