KKR, the American investment giant, has become the latest global corporation to sever ties with Global Counsel, the lobbying firm set up by Lord Mandelson, the disgraced former politician.
Sky News has learnt that KKR has decided to cease working with Global Counsel in the wake of fresh revelations about the close ties between Lord Mandelson and the convicted paedophile Jeffrey Epstein.
KKR owns assets including John Laing, the infrastructure investor, and Flora Food Group, the spreads producer which was previously part of Unilever.
It is understood to have worked with Global Counsel for some time.
KKR’s exit comes days after the Financial Times reported that Barclays had cut ties with the public affairs outfit, while the Premier League has also ceased to be a client.
On Friday, Benjamin Wegg-Prosser resigned as Global Counsel’s chief executive, while Lord Mandelson’s stake in the firm was sold to Rebecca Park, Mr Wegg-Prosser’s successor.
Lord Mandelson was sacked as Britain’s ambassador to the US last autumn amid the growing scandal over his relationship with Mr Epstein.
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Following the publication last week of millions of documents containing correspondence involving Mr Epstein, Lord Mandelson was forced out of the Labour Party and resigned as a member of the House of Lords.
On Friday, two of his homes were searched by police investigating potential offences relating to misconduct in a public office.
KKR declined to comment.