Killed by Owen
The real Karl Jaeger works for Bundesnachrichtendienst (German Intelligence Agency).
Owen approached him and by quoting Nietzsche ("Sometimes best weapon against an enemy is another enemy") convinced him to participate in an auction. 46 minutes before the end of an auction, Germany held the third place, after Russia and China. At the end of an auction, Alex saw him celebrating which means that he has won. At the parking lot he was supposed to give the black box to a guy to take it to Berlin. Karl killed the guy and drove away from the scene. At the harbor he met with Amanda. Soon after, Michael and Nikita caught up with them. The conflict has begun. Owen arrived and killed Karl while he was in a car with Amanda. Karl's last words we're: "You will be hunted forever." Owen destroyed the black box.
In Season 4, it was implied that the Karl Jaeger from "High-Value Target" is not the real one, but a double made by The Shop and Amanda, just like it happened to the US-President and some other persons (e.g. Birkhoff's father).