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KKR & Co. Inc. KKR announced its expansion plans in India, with the opening of a new office in Gurugram. The team will support the company’s growth and strengthen business operations.

It will also support the global operating model, with a motive to deliver persistent service and cater to the requirements of internal and external clients globally.

KKR intends to recruit nearly 150 employees by early 2024, primarily in the areas of finance, operations, human capital and technology. Further, the company has appointed Nisha Awasthi as the managing director to manage the new office.

Ryan Stork, chief operating officer of KKR, stated, “Having a team in Gurugram will strengthen our operating model across the globe by expanding our reach and enabling us to tap into a fantastic talent pool. Today’s milestone marks the beginning of a sizable investment in talent in India, as the new location is an important part of how we scale our global operations and service our clients. We are delighted to be part of the Gurugram business community.”

KKR joins peer Apollo Global Management, Inc. APO in expanding in India to support its global businesses.

Last year, APO announced the opening of its new office in Mumbai. This has strengthened its foothold in India and Asia Pacific region. This office is a vital part of Apollo’s growth strategy, which is being a major contributor for enterprise solutions business and aiding its global business operations.

Further, JPMorgan Chase & Co. JPM has also taken similar steps. To strengthen its presence in India, JPMorgan announced the opening of two new state-of-the-art facilities in Mumbai and Bengaluru in August 2023. The new facilities are the bank’s largest technology and operations centers globally, which will support long-term service excellence, efficiency and innovation.

KKR has maintained an extended presence in India since 2009 when it opened its first office in Mumbai and billions deployed in various asset classes.

The company’s new Gurugram office is set up in a newly developed neighborhood, providing easy accessibility between commercial offices and retail.

After this new addition, KKR now has offices in 24 cities across four continents. These include nine in Asia-Pacific, such as Beijing, Gurugram, Hong Kong, Mumbai, Seoul, Shanghai, Singapore, Sydney and Tokyo.

Shares of the company have surged 20% over the past six months compared with the industry’s rise of 6%.

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KKR currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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