Alexander Navab, former head of KKR &Co.'s Americas private equity business and founder of 3-month-old private equity firm Navab Capital Partners, has died, a firm spokeswoman said. Mr. Navab was 53.
"He passed away unexpectedly on Sunday while on holiday with his family," according to a firm statement.
Mr. Navab launched Navab Capital in April aimed at investing across upper midcap to larger companies in North America with corporate philanthropy as part of its mission. In the spirit of "doing well by doing good," Navab Capital established a philanthropic foundation to supply financial capital and personnel to support its initiatives.
"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," the statement said. "Our thoughts and prayers are with his loved ones, and we ask that their privacy be respected at this very difficult time."
Mr. Navab began his career at KKR in 1993, rising to head KKR's Americas private equity business in 2008. Mr. Navab left KKR in 2017 after raising a $14 billion North America buyout fund. At the time, KKR announced Mr. Navab's departure in July 2018 at the same time it named Joseph Bae and Scott Nuttall to the new positions of co-presidents and co-COOs.
"We are heartbroken. A longtime member of the KKR family, Alex was an outstanding investor, leader, mentor and a friend to many," said Henry R. Kravis and George R. Roberts, co-founders, co-chairmen and co-CEOs of KKR, in a statement. "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.
Mr. Navab was active in philanthropic, educational, community and national organizations. He was on a number of boards, including the New York-Presbyterian Hospital; The Robin Hood Foundation, a charity formed to help fight poverty in New York; and Columbia University.
He was also a member of the Board of Dean's Advisors at Harvard Business School; a member of the Council on Foreign Relations; a member of the executive advisory council at the George W. Bush Presidential Center; a member of The Hamilton Project Advisory Council; and on the executive committee at The Hellenic Initiative.
Mr. Navab was born in Isfahan, Iran. When he was 14 years old, he and his family left Iran, taking refuge in Greece during the 1979 revolution. Two years later, the Navab family immigrated to the United States.
Further details, including information on where donations in his honor may be directed, were not available.