A former KKR & Co. executive is set to launch a buyout firm with support from Goldman Sachs Asset Management LP, Reuters reported, citing unnamed sources.

Alexander Navab, previous head of Americas private equity business at KKR, entered into a strategic partnership with Goldman Sachs unit Petershill, people familiar with the matter told the news outlet. Petershill buys stakes in private equity firms and provides them with seed capital.

Navab is said to be talking with potential investors about starting a private equity fund that will inject capital into North American companies, the sources said, adding that the fundraising target is yet to be determined.

Neither Navab nor Goldman Sachs commented on the matter, according to the report.