Joseph Yong Bum Bae
| Joseph Yong Bum Bae | |
|---|---|
| Born | 1972 (age 53–54) South Korea |
| 🏫 Education | Phillips Academy Harvard University |
| 💼 Occupation | Co-President and Co-Chief Operating Officer, Kohlberg Kravis Roberts |
| 👩 Spouse(s) | Janice Y. K. Lee (1996–present) |
| 👶 Children | 4 |
Joseph Yong Bum Bae (born circa 1973) is an American businessperson and philanthropist of Korean descent.[1][2] Alongside Scott C. Nuttall, Bae is the co-president and co-chief operating officer of Kohlberg Kravis Roberts (KKR), an American global investment firm with a market cap of $18.9 billion as of April 2020.[3][4]
Early Life
Bae is of Korean descent and was raised in New Jersey.[5] He attended Phillips Academy, an elite boarding school in Andover, Massachusetts, and graduated in 1990.[6] Bae completed his undergraduate studies at Harvard University, where he graduated magna cum laude in 1994.[7]
Career
Joining KKR & Co. Inc.
Bae started his professional career as a financial analyst at Goldman Sachs, before leaving the firm with plans to attend Harvard Business School. However, a headhunter called Bae and recruited him to join KKR in 1996, two weeks before the start of the fall semester.[8] At the time that Bae joined, KKR was a relatively small firm with under 50 employees (versus 1,200 employees today).[8] He worked at the KKR offices in New York City before moving to Hong Kong in 2005 to serve as the head of KKR Asia, where he expanded the firm's business in the region. As the head of KKR Asia, Bae managed private equity funds that raised approximately $10 billion from investors, and oversaw the development of KKR offices in seven locations across Asia.[9][10] He also served as the head of KKR's infrastructure and energy asset businesses.[11]
Co-president of KKR & Co. Inc.
In July 2017, Bae was named co-president of KKR, alongside Scott C. Nuttall, and was granted $121 million in stock awards.[12] That year, he was the third-highest paid executive of a publicly traded U.S. company, behind colleague Nuttall and Evan Spiegel of Snap Inc.[13] Commentators speculated that this promotion poised Bae and Nuttall to be the successors to the billionaire co-founders and co-chairmen of KKR, Henry Kravis and George R. Roberts, who are ages 76 and 75 years old, respectively.[14][4] As co-president, Bae runs day-to-day operations at KKR and oversees KKR's private equity business, as well as the management of assets relating to energy, infrastructure, and real estate.[14]
Philanthropy
Bae's philanthropy supports education and the arts, and he currently volunteers for several prominent non-profit organizations. He is on the board of directors at the Lincoln Center and is a trustee of The Asia Society and Phillips Academy.[1][7][15]
Personal Life
Bae lives in New York City with his wife, Janice Y. K. Lee, a novelist. Bae and Lee met while students at Harvard and married in 1996.[5] The two have four children together.[16]
References
- ↑ 1.0 1.1 "KKR Company Profile & Executives - KKR & Co. Inc. Cl A - Wall Street Journal". www.wsj.com. Retrieved 2020-04-04.
- ↑ "KKR names Bae, Nuttall as co-presidents in step toward succession". Reuters. 2017-07-17. Retrieved 2020-04-05.
- ↑ "KKR & Co. Inc. (KKR) Stock Price, Quote, History & News - Yahoo Finance". finance.yahoo.com. Retrieved 2020-04-05.
- ↑ 4.0 4.1 Sender, Henny (July 17, 2017). "Joe Bae, the man who led KKR's Asia push". Financial Times. Retrieved 2020-04-11. Unknown parameter
|url-status=ignored (help) - ↑ 5.0 5.1 Brady, Lois Smith (1996-04-14). "WEDDINGS: VOWS;Janice Lee and Joseph Bae". The New York Times. ISSN 0362-4331. Retrieved 2020-04-04.
- ↑ Andover (2020-03-31). "Impact for all". Andover. Retrieved 2020-04-04.
- ↑ 7.0 7.1 "Andover magazine — Winter 2015". Issuu. Retrieved 2020-04-04.
- ↑ 8.0 8.1 "Teamwork at the Top: In Conversation With KKR's Joseph Bae and ... - Harvest". www.hvst.com. Retrieved 2020-04-05.
- ↑ "Exclusive: KKR Asia business architect Bae to return to U.S." Reuters. 2015-05-21. Retrieved 2020-04-04.
- ↑ Staff, P. E. I. (2017-07-18). "Bae's rise to the top of KKR". Private Equity International. Retrieved 2020-04-05.
- ↑ "Joseph Y. Bae | KKR". www.kkr.com. Retrieved 2020-04-04.
- ↑ Gara, Antoine. "Gentlemen At The Gate: With Trillions Pouring In, KKR And Its Peers Must Build Up Rather Than Break Up". Forbes. Retrieved 2020-04-04.
- ↑ "Highest Paid Executives for 2017". www.bloomberg.com. May 10, 2018. Retrieved 2020-04-05. Unknown parameter
|url-status=ignored (help) - ↑ 14.0 14.1 Merced, Michael J. de la (2017-07-17). "K.K.R. Lays Out a Line of Succession, a Rare Move in Private Equity". The New York Times. ISSN 0362-4331. Retrieved 2020-04-04.
- ↑ "Co-Chairs and Trustees". Asia Society. Retrieved 2020-04-05.
- ↑ "About". Retrieved 2020-04-05.
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