KKR To Launch Consumer JV with Jonathan Grayer

NEW YORK (Reuters) – Private equity giant Kohlberg Kravis Roberts & Co (KKR.AS) is to launch a partnership to invest in consumer services, education and media businesses, a source familiar with the situation said on Monday.

It will launch the business with Jonathan Grayer, former chairman and CEO of Kaplan, a unit of Washington Post Co (WPO.N), the source said. Grayer was CEO of Kaplan for 14 years to 2008. The partnership, expected to be announced Tuesday, is to be called Weld North, the source said.

It is the second such partnership KKR has struck in recent months. In July, it formed a music rights joint venture with German media group Bertelsmann AG (BTGGg.F) .

By Megan Davies
(Editing by Gary Hill)