KKR is promoting a pair of executives to a new role overseeing the firm’s $165bn private equity business in a push to improve coordination and communication across regions.

Pete Stavros and Nate Taylor, who have been serving as co-heads of the firm’s private equity business in the Americas, will become global co-heads, KKR executives said. In their new roles, they will add responsibility for the firm’s private equity businesses in Europe and Asia.