Bilicic Leaves KKR after Just Five Months

NEW YORK (Reuters) – George Bilicic is returning to run Lazard Ltd’s (LAZ.N) power, utilities and infrastructure business only five months after leaving to start Kohlberg Kravis Roberts & Co’s infrastructure group.

He will be chairman of Lazard’s power, utilities and infrastructure group — basically the same job he had before he left — and will also have broader investment banking responsibilities, Lazard said on Tuesday.

The move is effective immediately, the investment bank said.

Bilicic joined KKR in June. He was to lead the private equity firm’s forays into infrastructure assets, such as utilities, toll roads and airports, which were pegged to be a major new area of investment for KKR.

“Bilicic concluded that he finds advising clients most rewarding,” said a person familiar with KKR’s operations who declined to be named. “KKR respects his decision to return to the banking world and looks forward to working with him on projects in the future.”

During his previous stint at Lazard, Bilicic advised TXU in its acquisition by KKR and TPG, KeySpan in its purchase by National Grid Plc (NG.L) and Duke Energy Corp (DUK.N) in its merger with Cinergy.

(Reporting by Michael Erman and Megan Davies; Editing by Tim Dobbyn)