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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 was appointed co-CEO of the company, making him the second Korean CEO to head 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. As of July 2017, Bae and Nuttall, who both joined KKR in 1996, have shared the roles of co-chairman and co-CEO. Kravis and Roberts, 78 and 79 years old, respectively, will be executive co-chairs of the PE company and will oversee $429 billion in assets.
Bae was instrumental in helping KKR enter 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 divestments: the sale of its beer brand Oriental Brewery Co. to Belgian brewer AB InBev for $5.8 billion in 2014, five years after Oriental Brewery Co. acquired by South Korea for $1.9 billion in 2009. In addition, he oversaw the well-known cut deals 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, which had offset the depressed US trading market following the 2007 Global Financial Crisis. –2008.
His selection as Co-CEO comes a year after Kewsong Lee, co-CEO of the Carlyle Group at the time, took control of the US private equity firm as Managing Director. CEO after co-CEO Glenn Youngkin made the decision to retire 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 company’s capital market establishment, fundraising and insurance business as well as the development of KKR’s mass market operations in the credit and hedge fund sectors.
His appointment came a day before SK E&S Co., South Korea’s largest municipal gas supplier, announced that KKR had been selected as the exclusive negotiator to purchase 2 new preferred shares worth 2 4.4 trillion won ($2 billion). For the share purchase, KKR outbid three other selected 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’ list of outside PE investment firms, surpassing Carlyle and TPG in the number of investment vehicles authorized by the third largest pension fund in the world, National Pension Service (NPS) of Korea.
Bae’s parents, a missionary and scientist studying chemistry, moved to America when he was three years old. He received his bachelor’s degree with honors from Harvard University and then took his first job at Goldman Sachs’ private investment group.
Bae, a baby born in 1973, once dreamed of becoming a pianist. According to Forbes, his current estimated net worth is $1.1 billion. He is married to Janice Lee, a novelist of Korean descent, whom he met at Harvard. They have four children together.
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Categories: Biography
Source: vothisaucamau.edu.vn
