Michael M. Calbert, a 14-year veteran of Kohlberg Kravis Roberts who led the team that invests in the retail industry, has left the private equity giant, a spokeswoman said on Friday.
Mr. Calbert is retiring and has no immediate plans, a person briefed on the matter said. He has been succeeded by Nathaniel H. Taylor, a K.K.R. partner who joined the firm in 2005.
“Mike has played an important role in continuing our 30 year history of successful investing in the retail sector and we wish him well in his new endeavors,†the spokeswoman, Kristi Huller, said in an emailed statement.
“Nate Taylor has been a key member of the retail team and we are confident he will continue K.K.R.’s strong leadership in this space that has long benefited our investors,†she added.
Mr. Calbert was a partner in the Menlo Park, Calif., office of K.K.R. and led the firm’s investment in the discount retailer Dollar General, one of its most successful deals. He also worked on deals for Toys “R†Us and Pets at Home, a British retailer, among others.
Though he has left the private equity firm, Mr. Calbert will remain on the boards of US Foods and the retailer Academy Sports and Outdoors as a representative of K.K.R.
Before joining K.K.R. in 2000, Mr. Calbert was the chief financial officer of Randalls Food Markets, which in 1997 received an investment from the private equity firm, according to a biography of Mr. Calbert that until recently was on K.K.R.’s website. He also once worked as a consultant with Arthur Andersen Worldwide.
Mr. Taylor, who previously was at Bain Capital, worked on K.K.R.’s investments in companies including Toys “R†Us, SunGard Data Systems and Sun Microsystems. He also helped set up K.K.R.’s business in India.
