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David Petraeus hired on at private-equity firm KKR

May 30, 2013 at 10:53 AM   |   Comments

NEW YORK, May 30 (UPI) -- Former CIA chief and U.S. Army Gen. David Petraeus will work with private-equity firm KKR, leading a new in-house initiative, The Wall Street Journal reported.

KKR, known for large debt-fueled corporate takeovers, named Petraeus chairman of a new internal "institute" devoted to macroeconomic forecasts, communications, policy and advice on investments in emerging markets, people familiar with the situation told the Journal in an article published Wednesday.

Petraeus resigned in November as CIA director after the FBI uncovered an extramarital affair with his biographer during an investigation into allegations she sent threatening email messages to a Tampa, Fla., socialite.

Former Republican National Committee head Ken Mehlman, KKR's global head of public affairs, said Petraeus is "someone who has served in an incredibly effective and in some ways heroic way."

Petraeus' creative thinking and leadership "will be very helpful to us," he said.

Besides helping to identify new investment opportunities abroad, Petraeus will work with KKR's buyout teams on due diligence, people knowledgeable about the matter said.

He also is expected to offer advice on economic trends, issues with foreign governments and other matters that could affect transactions and will advise KKR-owned companies to improve management and leadership and provide help economic and geopolitical forces affect them.

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