Ex-KKR exec Alex Navab dies

Navab had left KKR in 2017 and was set to launch a $3bn debut fund for Navab Capital.

Alex Navab, a former KKR senior executive who recently embarked on launching his own firm, died unexpectedly Sunday, according to a statement from Navab Capital Partners and reported by sister title Buyouts Insider. He was 53.

Spokesman Alex Stanton declined to reveal the cause of death. Navab was on holiday with his family when he died, the statement said.

“Alex was an accomplished business leader and generous philanthropist who loved his family and played an important role in the professional and personal lives of many. Our thoughts and prayers are with his loved ones, and we ask that their privacy be respected at this very difficult time,” the statement said.

Navab worked as head of Americas private equity at KKR. He was also a member of the firm’s management committee, chairman of the Americas private equity investment and of the Americas portfolio management committees.

“We are heartbroken. A longtime member of the KKR family, Alex was an outstanding investor, leader, mentor and a friend to many. His contributions in business and philanthropy over his lifetime will forever remain part of his remarkable legacy. Our deepest condolences to his family who we know he cherished more than anything else,” KKR co-founders and co-CEOs Henry Kravis and George Roberts said in a statement.

Before KKR, Navab worked at James D Wolfensohn. From 1987 to 1989, he worked at Goldman Sachs in investment banking.

Navab left KKR in 2017 and launched Navab Capital. The firm was set to target at least $3 billion for its debut fund, which was expected to hit the market this year. It is unclear what implications Navab’s passing will have for the firm.

Navab battled health issues in the past. He was diagnosed with cardiac arrhythmia, or an irregular heart beat, after he collapsed at an investor meeting in 2013, the New York Post reported at the time.

This article was first published by sister publication Buyouts Insider.