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UK media heavyweight Hollick joins KKR as managing director

Clive Hollick, chief executive of United Business Media and a former advisor to the UK government, is to join the European team of US buy-out giant KKR in the spring. He will focus on investments in the media and financial services sectors.

He is shortly to stand down from his position at UBM but will continue as the senior non-executive director of Diageo, a non-executive director at Honeywell International and as chairman of London's South Bank Centre.

Henry R Kravis, one of KKR's founders, said, 'Lord Hollick has developed and cultivated leading media and financial services businesses, resulting in enormous value creation. His expertise and deep knowledge of the media sector will help us to maximise the potential of our media holdings and further expand our portfolio.'

KKR's current European portfolio consists of ten companies based in Germany, Austria, France, the Netherlands and the UK. The firm is in the process of raising a new €3.5bn fund to invest in Europe.

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