May 30, 2013 at 11:35 AM ET
Retired Army Gen. David Petraeus, attempting to rebuild his reputation after he resigned as CIA director last year over an extramarital affair, will take a new job with investment firm Kohlberg Kravis Roberts, the firm said on Thursday.
Petraeus, 60, will serve as chairman of the newly created KKR Global Institute, supporting its investment teams and portfolio companies studying new investments, especially in new parts of the world. The New York-based company did not detail the terms of its agreement with Petraeus, but a spokeswoman said he will serve in a consultant's role.
The four-star general resigned as head of the CIA in November, saying he had engaged in an extramarital affair. It was a stunning downfall for a revered military man who was seen as one of the top American leaders of his generation and was once considered a potential contender for the White House.
The sex scandal involving the married Petraeus and his biographer Paula Broadwell, an Army reserve intelligence officer who is also married, provided fodder for comedians and triggered a media storm that followed his confession and resignation.
He had been CIA director since September 2011. Before that, Petraeus served more than 37 years in the U.S. Army. He was commander of NATO forces in Afghanistan and also commanded forces in Iraq in 2007 and 2008, when violence in that country dropped following a surge in military forces.
Petraeus has a doctorate from Princeton University and has written widely on international relations, military strategy and tactics, and national security issues. He also has taught economics and international relations at the U.S. Military Academy.
He will add the new job to a couple of teaching assignments. Earlier this month, the University of Southern California announced he will join its faculty to teach classes and also mentor ROTC members.
In April, Macaulay Honors College at City University of New York named Petraeus a visiting professor for public policy starting next August. He said in a statement released by Macaulay that he was looking forward to leading a seminar on the global economic slowdown.
KKR, which has more than $78 billion in assets under management, has been involved in some of the biggest private equity buyouts in history including the $45 billion takeover of Texas power producer TXU, now known as Energy Future Holdings, in 2007. Private equity still accounts for most of KKR's assets under management, but the firm has been diversifying into credit and hedge funds.
KKR said the global institute will help it focus on issues that can affect its global investments. Those include public policy, regulatory and technology trends. The institute also will build on KKR's push to help its portfolio companies expand globally.
Reuters and the Associated Press contributed to this report