KKR Financial Holdings LLC (NYSE: KFN) is a pioneer of the private equity world. However, over the past few years, things have changed significantly. Besides the credit crunch, dealmakers must also deal with the complexities of politics. After all, a buyout can have a major impact on a community -- in terms of jobs and the ecosystem.
Realizing this, KKR is bulking up its political heft. This week, the firm announced that it has hired Kenneth Mehlman as a managing director and head of public affairs.
Mehlman has a strong resume, having served as the chairman of the Republican National Committee. He was also the campaign manager for President George Bush in the 2004 election. The latest gig for him was as a partner at Akin Gump. Interestingly, one of his top clients was KKR.
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