Gillian Tan, Columnist

Game of Thrones, Private Equity Style

Its framework for replacing its aging patriarchs should set an example for other private equity firms.

July 17, 2017 at 2:22 PM UTC

Gillian Tan is a senior reporter covering finance and alternative asset classes including real estate, infrastructure, private equity, private credit, venture capital and sports business. She previously wrote an opinion column for Bloomberg and was a reporter at the Wall Street Journal. She is a qualified chartered accountant.

attends the premiere of HBO's "Game Of Thrones" Season 6 at TCL Chinese Theatre on April 10, 2016 in Hollywood, California.
Photographer: Alberto E. Rodriguez

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KKR & Co., the firm that helped pioneer leveraged buyouts, has set in motion its long-awaited plans for a changing of the guard. Its closest rivals should quit referencing their own deep benches and follow suit by formalizing their own next generation of leaders.

KKR on Monday named Scott Nuttall and Joe Bae co-presidents and co-chief operating officers in a move that quells any doubts about who will run the New York-based firm when 73-year-old co-CEOs, co-chairmen and cousins Henry Kravis and George Roberts inevitably move on from the firm they founded in 1976.