A Jan. 30 memo to the Fresno County Employees’ Retirement Association, from Wurtz & Associates, revealed Goltz’s departure from KKR. FCERA is an investor of KKR Mezzanine Partners and Goltz is one of four key Mezzanine persons, the memo says.
The LP agreement specifies that the key person provision is activated when there are fewer than two key persons “devoting the required involvement,” the memo states. Goltz’s departure, apparently because he was one of four key persons, does not trigger the provision, the memo says.
Goltz, who was based in San Francisco, is leaving KKR for personal reasons, the memo says. It was not immediately clear what Goltz’s future plans are. Goltz joined KKR in 1995. He was previously co-head of KKR’s energy, power and natural resources industry group.
A KKR spokeswoman confirmed that Goltz has left the firm.
Marc Ciancimino is stepping in to lead KKR Mezzanine Partners, the memo says. Ciancimino has been the European head of Mezzanine since he joined in 2008, the memo says. He will continue to be located in London.
KKR Mezzanine Partners I raised $1 billion in August 2011. FCERA committed $30 million the KKR mezzanine fund, the memo states.
News of Goltz’s departure was reported by Bloomberg News Monday.
Photo courtesy of Shutterstock
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