Merkel to meet Kravis in New York

Germany’s recently appointed chancellor Angela Merkel is to meet a group of leading executives this week including KKR’s Henry Kravis.

German chancellor Angela Merkel will meet with a group of US and German business people including Henry Kravis, founder and CEO of Kohlberg Kravis Roberts, while visiting New York this week.
Merkel is in New York for two days this week, during which time she will meet US President George Bush and address the annual meeting of the American Jewish Committee.
However, she is also due to meet a number of representatives from US buyout firms, including Kravis. According to a report in Financial News, Merkel will also meet Citigroup chairman Charles Prince, Goldman Sachs chairman Hank Paulson and John Edwards, a former senator of North Carolina and current advisor to Fortress Investment Group.
German sentiment towards private equity investors appears to have softened since Franz Müntefering, the former head of the SDP party, branded financial investors locusts in April 2005.
According to a recent KPMG survey, the majority of professionals active in the industry believe that the locust debate has not had a negative impact on the German private equity industry.
Kohlberg Kravis Roberts’ investments in Germany include jet engine manufacturer MTU Aero Engines, which the firm fully exited in the sale of its 29 percent stake to institutional investors earlier this year; automotive retailer A.T.U.; telecoms operator Broadnet Medicascape Communications; and recycling business Duales System Deutschland. The firm’s European operations are overseen by Johannes Huth, a German national.