55 Facts About KKR

Since its founding, KKR has completed a number of transactions, including the 1989 leveraged buyout of RJR Nabisco, which was the largest buyout in history to that point, as well as the 2007 buyout of TXU, which is currently the largest buyout completed to date.

KKR is led by its executive leadership team, Henry Kravis, George R Roberts, Joseph Bae, and Scott C Nuttall.

KKR is headquartered at 30 Hudson Yards, Manhattan, New York, with offices in Menlo Park and San Francisco, Houston, London, Dublin, Paris, Madrid, Luxembourg, Hong Kong, Tokyo, Beijing, Shanghai, Mumbai, Dubai, Riyadh, Seoul, Sao Paulo, Singapore, and Sydney.

KKR's business operates in four segments: private markets, public markets, capital markets, and principal activities.

KKR has raised 23 private and growth equity funds with approximately $102.

Related searches

KKR's first dedicated growth equity fund, launched in 2016, invests in the technology, media, and telecommunications sector, primarily in the United States, Canada, Europe, and Israel.

In 2016, KKR launched its second dedicated growth equity fund to pursue investments in the health care sector, primarily in the United States.

KKR invests in these energy strategies primarily through the KKR Energy Income and Growth Fund.

In December 2017, FS Investments and KKR announced they are pooling together more than $18 billion in private capital to invest in mid-sized businesses, in a push to do bigger deals which are out of reach for other alternative lenders.

KKR uses this capital for general partner commitments and to establish a track record for fundraising purposes in new strategies, such as the approximately $1 billion invested in KKR's real estate business as of 2017.

KKR raised capital from a small group of investors including the Hillman Company and First Chicago Bank.

In 1979 KKR completed a risky, precedent-setting public-to-private leveraged buyout of a large conglomerate Houdaille Industries, a well-known producer of machine tools, industrial pipes, chrome-plated car bumpers and torsional viscous dampers, which they signed the previous year.

KKR had the support of equity co-investments from pension funds and other institutional investors.

Investors included Coca-Cola, Georgia-Pacific and United Technologies corporate pension funds, as well as endowments from MIT, Harvard and the New York State Common Retirement Fund However, KKR faced criticism from existing investors over the firm's use of hostile tactics in the buyout of RJR.

KKR proposed to provide a joint offer with Johnson and Shearson Lehman but was rebuffed and Johnson attempted to stonewall KKR's access to financial information from RJR.

KKR's offer was guaranteed, whereas the management offer lacked a "reset", meaning that the final share price might have been lower than their stated $112 per share.

KKR's offer was welcomed by the board, and, to some observers, it appeared that their elevation of the reset issue as a deal-breaker in KKR's favor was little more than an excuse to reject Johnson's higher bid of $112 per share.

Buyout of RJR Nabisco was completed in April 1989 and KKR would spend the early 1990s repaying the RJR's enormous debt load through a series of asset sales and restructuring transactions.

KKR did not complete a single investment in 1990, the first such year since 1982.

KKR began to focus primarily on its existing portfolio companies acquired during the buyout boom of the late 1980s.

KKR had originally identified a group of divisions that it could sell to reduce debt.

KKR began to reduce its ownership in RJR in 1994, when its stock in RJR was used as part of the consideration for its leveraged buyout of Borden, Inc, a producer of food and beverage products, consumer products, and industrial products.

The following year, in 1995, KKR would divest itself of its final stake in RJR Nabisco when Borden sold a $638 million block of stock.

In July 2004, KKR agreed to sell its stock in Borden Chemical to Apollo Management for $1.

KKR created Primedia's predecessor, K-III Communications, a platform to buy media properties, initially completing the $310 million divisional buyout of the book club division of Macmillan along with the assets of Intertec Publishing Corporation in May 1989.

Related searches

In 2005, Primedia redeemed KKR's preferred stock in the company but KKR was estimated to have lost hundreds of millions of dollars on its common stock holdings as the price of the company's stock collapsed.

In 1996, KKR was able to complete the bulk of fundraising for what was then a record $6 billion private equity fund, the KKR 1996 Fund.

However, KKR was still burdened by the performance of the RJR investment and repeated obituaries in the media.

Additionally, KKR was one of the few firms that were able to complete large leveraged buyout transactions in the years immediately following the collapse of the Internet bubble, including Shoppers Drug Mart and Bell Canada Yellow Pages.

KKR was able to realize its investment in Shoppers Drug Mart through a 2002 IPO and subsequent public stock offerings.

In 2005, KKR was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $11.

In 2007, KKR filed with the Securities and Exchange Commission to raise $1.

KKR had previously listed its KPE vehicle in 2006, but for the first time, KKR would offer investors an ownership interest in the management company itself.

KKR has announced that it expects to close the transaction in 2009.

In October 2010, KKR acquired about nine members of Goldman Sachs Group proprietary trading team after entertaining offers from investment firms such as Perella Weinberg and Blackrock.

In January 2014, KKR acquired Sedgwick Claims Management Services Inc for $2.

In June 2014, KKR announced it was taking a one-third stake in a Spanish energy business of Acciona Energy, at a cost of €417 million .

Also in 2014, KKR acquired commercial landscaping company ValleyCrest from Michael Dell's investment firm MSD Capital, and combined it with landscape company Brickman, which it had owned since 2013, to form BrightView.

In January 2015, KKR confirmed its purchase of the British rail ticket website thetrainline.

In 2016, KKR purchased two Hispanic chains, Northern California Mi Pueblo and Ontario, California–based Cardenas.

In February 2016, KKR invested $75 million in commercial real estate lender A10 Capital.

In October 2016, it was reported that KKR invested $250 million in OVH to be used for further international expansion.

In February 2017, KKR was reported to be trying to take over the international market research company ARI GfK SE.

In mid-July 2018, KKR purchased RBMedia, one of the largest independent publishers and distributors of audiobooks.

In July 2018, it was announced that KKR sold Gallagher Shopping Park, West Midlands in the UK to South Korean investors, Hana for £175 million.

Related searches

In February 2019, KKR acquired the German media company Tele Munchen Gruppe.

Later that month, KKR acquired German film distributor Universum Film GmbH.

Later that month, KKR became the biggest shareholder of German media group Axel Springer, paying $3.

In May 2020, KKR announced that it will be investing $750 million in cosmetics producer Coty, Inc A separate plan was revealed in which several divisions of Coty are set to be spun out into a new company.

In late June 2020, KKR announced it would lead a $48 million funding round for Artlist, a provider of royalty-free music, sound effects and video.

In September 2020, KKR announced an investment of $755 million in the retail arm of India-based Reliance Industries Ltd.

In January 2021, KKR acquired a majority stake in the catalogue of American musician Ryan Tedder, including his band OneRepublic and the songs that he composed for other artists since 2016.

In May 2022, Business Wire reported that KKR led about $200 million investment round in Semperis, a cybersecurity company focused on identity protection.

In June 2022, it was announced that KKR would sell Cardenas to funds affiliated with Apollo Global Management for an undisclosed amount.

Since 1996, general partners of KKR have included Henry Kravis, George R Roberts, Paul Raether, Robert MacDonnell, Jose Gandarillas, Michael Michelson, Saul Fox, James H Greene, Jr.