KKR Said to Hire Former SEC Attorney Karpati as Compliance Chief

Apr 09, 2014 6:53 pm ET

April 9 (Bloomberg) -- Bruce Karpati, a former top attorney at the U.S. Securities and Exchange Commission, is joining KKR & Co. as the private-equity firm’s global chief compliance officer, a person familiar with the matter said.

Karpati, who until recently headed compliance at Prudential Financial Inc.’s mutual-fund unit, will succeed H.J. Willcox, who left KKR last year. He will assume the post later this month, said the person, who asked for anonymity because the move wasn’t announced publicly.

The SEC is carrying out a broad review of private-equity managers to ensure that their business practices meet requirements of the 2010 Dodd-Frank Act regulating U.S. financial services. Karpati worked for more than a dozen years at the agency, last serving as head of the enforcement division’s asset-management unit, where he oversaw more than 75 lawyers. He joined Prudential in May.

KKR, which is based in New York and led by cousins Henry Kravis and George Roberts, manages more than $94 billion in private-equity, credit, real estate and hedge-fund assets.

Kristi Huller, a spokeswoman for KKR, said she couldn’t comment on the hiring, which was reported earlier today by the Wall Street Journal.