Lee Stern has left Kohlberg Kravis Roberts for Levine Leichtman Capital Partners, where he will be a managing director and member of the firm’s credit strategies investment team.
Stern left KKR several months ago, less than three years after his appointment as a director with KKR Asset Management. Stern was a member of the firm’s mezzanine team – led by Frederick Goltz – where he was responsible for originating and structuring mezzanine investments.
His tenure at KKR included the formation of the KKR’s debut mezzanine partners fund, which closed on more than $1 billion last August. Stern is listed as the mezzanine team’s “director for New York business” in a 31 March memorandum from the Fresno County Employees’ Retirement Association. Limited Partners were notified at the time of his departure.
He is not listed as an executive officer on any of the fund’s US Securities and Exchange Commission filings.
KKR Mezzanine Partners I is more than 50 percent invested.
Prior to KKR, Stern was a managing director at The Blackstone Group/GSO Capital Partners, where he was responsible for the origination, execution and monitoring of private debt transactions.
A spokesperson for Levine Leicthman Capital Partners did not respond to a request for comment at press time.
Los Angeles-based Levine Leichtman Capital Partners manages approximately the $5 billion in investment capital. The firm has offices in Los Angeles, New York, Dallas, Chicago and London.