KKR & Co. L.P. (formerly Kohlberg Kravis Roberts) is a New York City-based private equity firm which is going public in a $1.25 billion initial public offering (IPO). The company has refurbished its hostile takeover image and is now seen as a kinder, gentler firm with a buy-and-build strategy. "The firm assembles funds from institutional and wealthy investors and profits from management fees and its direct interests. An active investor, it often supervises or installs new management and revamps strategy and corporate structure, selling underperforming units or adding new ones." In 2006, it had sales of $4.4 billion and profits of $1.1 billion.
Tobacco involvement
(Acquired RJR Nabisco in 1989): RJR Nabisco Holdings Corp. was organized by Kohlberg Kravis Roberts & Co. L.P. to effect the acquisition of RJR Nabisco Inc., which was completed in April 1989 (Value Line 5/20/94). See RJR Nabisco Holdings Corp., RJR Nabisco Inc., and TTLA Almanac - Names.
Energy Involvement
In February 2007, Teaxs energy company TXU announced its acquisition by an investor group led by private equity firms KKR and Texas Pacific Group (registered under TPG Capital LP).[2] In July 2007, TXU announced that its power generation and related businesses would now be assigned to the Luminant name.[3] Both TXU and Luminant would be owned by Energy Future Holdings (EFH), a Dallas-based, privately held energy company led by KKR and TPG Capital, as well as global investment bank Goldman Sachs.[4]
Political contributions
In the 2004 presidential election, Henry R. Kravis, Founding Partner, Co-Chairman and Co-CEO of Kohlberg Kravis Roberts, was a Bush Pioneer, having raised at least $100,000 for Bush. [5]
In the 2006 election, the top three executives gave as follows: [6]
- Henry R. Kravis personally gave $0 to Democrats, $5,000 to independent Senator Joseph Lieberman (I-CT), and $70,840 to Republicans.
- George R. Roberts, Co-Chairman and Co-CEO, made no contributions.
- William J. Janetschek, Chief Financial Officer, gave $0 to Democrats and $3,000 to Republicans.
Lobbying
Kohlberg Kravis Roberts spent $540,000 for lobbying in the first half of 2007. Lobbying firms used were Covington & Burling, Akin, Gump, Strauss, Hauer & Feld, and OB-C Group. [7]
Board
Accessed October 2012: [8]
- Henry R. Kravis - Co-Chief Executive Officer
- George R. Roberts - Co-Chief Executive Officer
- Todd A. Fisher - Chief Administrative Officer
- William J. Janetschek - Chief Financial Officer
- David J. Sorkin - General Counsel and Secretary
2015
- [Henry R. Kravis]], George R. Roberts, David Drummond, Joseph A. Grundfest, John B. Hess, Patricia F. Russo, Thomas M. Schoewe, Robert W. Scully [1]
Personnel (2008)
Key executives: [9]
- Henry R. Kravis, Co-Chairman and Co-CEO
- George R. Roberts, Co-Chairman and Co-CEO
- William J. Janetschek, Chief Financial Officer
Selected KKR Senior Advisors: [10]
- Edwin L. Artzt, Former Chairman and Chief Executive Officer, Procter & Gamble
- George M.C. Fisher, Former Chairman and Chief Executive Officer of both Eastman Kodak and Motorola
- Paul M. Hazen, Former Chief Executive Officer, Wells Fargo
- R. Clint Johnstone, Former Director and Chief Financial Officer, Bechtel Group, Inc.
- John M. Keane, Former Vice Chief of Staff, U.S. Army
Senior Advisors Group
Accessed October 2012: [11]
- Sir John Bond Former Group Chairman of HSBC Holdings plc
- DS Brar Former CEO of Ranbaxy Laboratories and former director of the Reserve Bank of India (RBI)
- Michael D. Capellas Former CEO of First Data Corporation, Compaq Computer and WorldCom
- Sir Roger Carr Chairman of Centrica plc, non-executive Director to the Court of the Bank of England and President-elect of the Confederation for British Industry
- Liu Chuanzhi Founder of the Lenovo Group and President of Legend Holdings
- Leigh Clifford Current Chairman of Qantas Airways Limited and former CEO of Rio Tinto
- David Cote Chairman and CEO of Honeywell
- Tony De Nunzio Former President and CEO of Asda Group Ltd.
- Lewis M. Eisenberg Former Chairman Port Authority of New York and New Jersey and former General Partner and Co-Head of Equity Division at Goldman Sachs & Company
- George M.C. Fisher Former Chairman and CEO of Motorola, Inc. and Eastman Kodak Company
- Joe W. Forehand Former Chairman and CEO of Accenture
- Ford M. Fraker Former U.S. Ambassador to the Kingdom of Saudi Arabia and former Chairman of private investment banking firm Trinity Group Limited
- Kenneth W. Freeman Allen Questrom Professor and Dean of the School of Management at Boston University and former Chairman and CEO of Quest Diagnostics Incorporated
- Ruud Hendriks Former Managing Director at Goldman Sachs
- R. Clint Johnstone Former Director and CFO of the Bechtel Group
- Lim Hwee Hua Former Minister in the Office of the Prime Minister of Singapore and Second Minister for Finance and Transport
- Paul J. Norris Former Chairman and CEO of W.R. Grace & Co.
- John Mack Former CEO and former Chairman of the Board of Morgan Stanley
- Henrique Meirelles Former Governor of the Central Bank of Brazil and Former President of FleetBoston's Corporate and Global Bank
- Gianemilio Osculati Chairman of Valore S.p.A. and McKinsey’s Mediterranean Complex
- James W. Owens Caterpillar Chairman and CEO Emeritus
- Arun Sarin Former CEO of Vodaphone Group Plc.
- Richard Sarnoff Former Co-Chairman of Bertelsmann, Inc. and Supervisory Board Member of Bertelsmann AG
- Paul Wang Founder and Managing General Partner of Pacific Venture Partners
Contact details
Ninth West 57th Street
Suite 4200
New York, NY 10019
Phone: 212-750-8300
Fax: 212-750-0003
Web: http://www.kkr.com
Related
References
- ↑ KKR Profile, Hoovers, accessed September 2007.
- ↑ "TXU to Set New Direction As Private Company", press release, February 26, 2007.
- ↑ "Luminant Name Adopted for TXU Corp.’s Power Generation and Related Businesses", press release, July 10, 2007.
- ↑ "Energy Future Holdings Corp.: Our Owners" Energy Future Holdings Corp., accessed July 2010.
- ↑ Bush Pioneer Henry Kravis, Texans for Public Justice, accessed September 2007.
- ↑ Query By Individual Contributor, FEC, accessed September 2007.
- ↑ Kohlberg Kravis Roberts & Co lobbying expenses, Open Secrets.
- ↑ KKR Leadership, organizational web page, accessed October 4, 2012.
- ↑ KKR Key People, Hoovers, accessed September 2007.
- ↑ Senior Advisors, KKR, accessed September 2007.
- ↑ KKR Senior Advisors Group, organizational web page, accessed October 4, 2012.
