Private Equity

Managing director departs Accel-KKR; another moves to non-investing role

Joe Savig, a managing director at middle-market private equity firm Accel-KKR has left the firm, while Jason Klein, also a managing director, is moving into a non-investing partner role, said sources close to the firm.

Accel-KKR concentrates on investing in midmarket companies offering software and technology-enabled services.

Mr. Savig's last day was March 31, according to sources familiar with the situation. For the past two years, he has been investing the firm's capital and has not been involved in managing Accel-KKR's buyout, growth and credit funds.

Mr. Klein will become a non-investing partner once the firm's latest fund, Accel-KKR Capital Partners VI, closes. He will then focus on the about 10 companies he currently serves as a director on and will help manage those portfolio companies until they are exited.

The duties of Messrs. Savig and Klein will be assumed by the other managing directors at Accel-KKR.

Accel-KKR has more than $5 billion in total capital commitments. Accel-KKR executives declined to comment.