KKR hires former Carlyle MD

KKR has appointed former Carlyle MD Jacques Garaïlde to lead the firm’s operations in the French market.

(PrivateEquityCentral.net) New York-based private equity firm Kohlberg Kravis Roberts today announced the appointment of Jacques Garaïalde as managing director of the firm’s London-based European operations.


From 2000 until last month Jacques Garaïalde was managing director for European venture capital investments at The Carlyle Group.


“We are delighted to have Jacques Garaïalde joining our European team, with primary responsibility for our French business,” Ned Gilhuly, managing director for KKR in Europe, said in a statement. “Jacques’ appointment demonstrates the confidence we have in further developing KKR’s potential in France, following the exceptional relationship we have established with Legrand and the very significant investment we have made in its future.”


“Jacques's career achievements as a consultant and as an investor provide him the expertise which we incorporate in our investment process and in working closely with the management of our portfolio companies. Jacques has already established himself as a leader in both industrial management and in the investment community,” Gilhuly said in the statement.


“I’m thrilled with the opportunity of developing KKR’s strong potential in Europe in general and, in particular, taking the leadership for France,” Garaïalde said in the statement. “There is a perfect match between the needs of French companies which are poised for growth and KKR’s approach of true industrial partnership.”


Prior to Carlyle, Garaïalde had been a senior partner at the Boston Consulting Group from 1982 to 2000, where he was senior vice president and managing partner of the firm’s operations in France and Belgium from 1992 to 1995 and vice president in charge of Boston Consulting Group’s high tech practice in Southern Europe from 1989 to 1992. During his 18 years as a management consultant, Garaïalde led projects in the communications services, telecommunications equipment, semiconductors, components, defence systems and consumer electronics sectors.


Garaïalde began his professional career as an analyst at Exxon.


KKR raised a $3bn fund dedicated to European deals in 2000. Major European buyouts include the acquisition of electric products company Legrand for E3.7bn and seven divisions of German electronics giant Siemens for E1.69bn, both in July 2002.