Alexander Navab, the former head of Americas private equity at KKR & Co. who started his own firm earlier this year, has died unexpectedly, a spokesperson confirmed Monday.
“It is with deep sadness that we share the news of the untimely passing of our founder, Alexander (‘Alex’) Navab. He passed away unexpectedly on Sunday while on holiday with his family,” Navab Capital Partners told Institutional Investor in a statement Monday. “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.”
He was 53 years old. The firm did not disclose the cause of death.
Navab launched Navab Capital Partners in April, and was working to raise $3 billion to invest in companies in the health care, technology, media, consumer, and financial services sectors, II reported at the time.
[II Deep Dive: Former KKR Manager Creates Private Equity Firm Navab Capital]
Navab worked for KKR for 24 years, his LinkedIn profile shows. He held several leadership roles at the firm, including chair of the Americas private equity investment committee, chair of the Americas portfolio management committee, and a seat on the firm’s management committee, according to Navab Capital.
“We are heartbroken,” KKR founders Henry Kravis and George Roberts said in a statement Monday.
“A longtime member of the KKR family, Alex was an outstanding investor, leader, mentor, and a friend to many,” they said. “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.”
Navab began his career at Goldman Sachs, where he worked in the investment banking department, according to Navab Capital. Prior to joining KKR, he worked on mergers and acquisitions at James D. Wolfensohn Inc.
Navab served on the boards at Fidelity National Information Systems (FIS), the Council of Foreign Relations, Cornerstone Capital Group, and the New York-Presbyterian Hospital. He was also a member of the Columbia University board of trustees and the Hamilton Project Advisory Council. Navab served on the executive advisory council at the George W. Bush Presidential Center and the board of the Robin Hood Foundation. He had plans to set up a philanthropic foundation at his private equity firm.
“Alex joined FIS’ board of directors just over a year ago and was a crucial contributor and invaluable resource to the company,” said Gary Norcross — the chairman, president, and CEO at FIS — via email. “He will be deeply missed.”