KKR & Co. Inc.

Press Release

KKR granted license to operate from the Dubai International Financial Centre

<< Back
05.11.09
Dubai, May 11, 2009: Kohlberg Kravis Roberts & Co. L.P. (“KKR”), a leading global alternative asset manager, today announced that KKR MENA Limited has been granted a license by the Dubai Financial Services Authority to operate from the Dubai International Financial Centre (DIFC).
 
Abdulla Al Awar, Managing Director of the DIFC Authority, pointed out that: “The MENA region, and especially the Arabian Gulf, has been relatively less impacted by the ongoing global financial crisis than North America, Europe or Asia. The Gulf has been particularly well-cushioned by the windfall revenues from the high oil prices witnessed during most of 2008. This surplus income has been earmarked for continued investments in infrastructure projects to upgrade existing ones and build new capacities.
 
“Concurrently, our region is also witnessing a deepening of the financial markets and private equity   is not only abundant here, but is fairly active. We are pleased to note that a globally respected firm such as KKR has chosen Dubai as their base to operate across the MENA region. We wish them the very best and offer all support for their continued success as we welcome them to the DIFC,” Al Awar said.
 
Led by Makram Azar, Managing Director and Head of Middle East and North Africa, KKR MENA is a newly formed subsidiary of KKR, especially created to do business from the DIFC. Its area of operations will cover the entire Middle East and North Africa (MENA) region. KKR MENA Limited will pursue private equity and infrastructure transactions in the MENA region and engage in the distribution of various KKR products.
 
Mr. Azar said: “We are delighted to officially launch KKR’s office in the DIFC and our operations in the rapidly developing Middle East and North Africa region. There are a wide variety of attractive opportunities in these markets and our professionals here look forward to capitalizing on KKR’s global resources to build an exceptional franchise.”
 
                                                                                                 
 
-Ends-
 
 
 
About DIFC
The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just four years, over 750 firms have registered at DIFC. They operate in an open environment complemented with world-class regulations and standards. DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
 
Media enquiries:
Shaima Al Zarouni
Assistant PR Manager
Dubai International Financial Centre
Tel: +971 4 362 2432
 
Iman Ahmad
Regional Media Relations Manager
Dubai International Financial Centre
Tel: +971 50 2058021
Nova Ghadri                                                   
Media Executive                                               
Dubai International Financial Centre                   
Tel: +971 4 362 2499                                         
E-mail: nova.ghadri@difc.ae                                         
 
 
 
About KKR
Established in 1976, KKR is a leading global alternative asset manager. KKR's franchise is sponsoring and managing funds that make investments in private equity, fixed income and other assets in North America, Europe, Asia and the Middle East. Throughout its history, KKR has brought a long-term investment approach, focusing on working in partnership with management teams of its portfolio companies and investing for future competitiveness and growth. Funds that KKR sponsors include traditional private equity funds and KKR Private Equity Investors, L.P. (Euronext Amsterdam: KPE), a permanent capital fund that invests in KKR-identified investments; two credit strategy funds, KKR Financial Holdings LLC (NYSE: KFN) and the KKR Strategic Capital Funds, which make investments in debt transactions; and separately managed accounts focused on a variety of asset classes. KKR has offices in New York, Menlo Park, San Francisco, Houston, Washington D.C., London, Paris, Hong Kong, Tokyo, Beijing, Mumbai, Dubai and Sydney. More information about KKR is available at: www.kkr.com. KKR MENA Limited is regulated by the DFSA to provide certain financial services to Professional Clients. 
 
Media enquiries
 
Peter McKillop, KKR
Tel: +212 230 9475
 
Kristi Huller, KKR
Tel: +1 212 230 9722
 
Simon Moyse, Finsbury Group
Tel: +971 50 1505869
 
Zoe Watt, Finsbury Group
Tel: +44 207 251 3801