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67-435: KKR & Co. Inc. , also known as Kohlberg Kravis Roberts & Co. , is an American global investment company . As of December 31, 2023, the firm had completed private equity investments in portfolio companies with approximately $ 710 billion of total enterprise value. Its assets under management (AUM) and fee paying assets under management (FPAUM) were $ 553 billion and $ 446 billion, respectively. KKR

134-467: A reverse takeover of its listed affiliate KKR Private Equity Investors in exchange for a 21% interest in the firm. In November 2008, KKR announced a delay of this transaction until 2009. Shares of KPE had declined significantly in the second half of 2008 with the onset of the credit crunch . KKR announced that it expected to close the transaction in 2009. In October 2009, KKR listed shares in KKR & Co. on

201-506: A $ 1.25 billion PIPE investment in Legg Mason through a convertible preferred stock offering. In addition to its successful buyout transactions, KKR was involved in the failed buyout of Harman International Industries ( NYSE :  HAR ) , an upscale audio equipment maker. On April 26, 2007, Harman announced it had entered an agreement to be acquired by KKR and Goldman Sachs . In September 2007, KKR and Goldman backed out of

268-600: A $ 638 million block of stock. While KKR no longer had any ownership of RJR Nabisco by 1995, its original investment would not be fully realized until KKR exited its last investment in 2004. After sixteen years of efforts, including contributing new equity, taking RJR public, asset sales, and exchanging shares of RJR for the ownership of Borden, Inc. , KKR finally sold the last remnants of its 1989 investment. In July 2004, KKR agreed to sell its stock in Borden Chemical to Apollo Management for $ 1.2 billion. In

335-460: A 43.54% stake. In August 2019, KKR also acquired a majority stake in German payment service provider to the e-commerce industry Heidelpay from AnaCap Financial Partners for more than €600 million. In December 2019, KKR, together with Alberta Investment Management Corporation , acquired a 65% stake in the controversial Coastal GasLink Pipeline project from TC Energy . The pipeline route crosses

402-603: A 50% stake in Tarkett, a France-based distributor of flooring products, in a deal valued at about €1.4 billion ($ 1.8 billion). On November 20, 2006, KKR announced it would form a A$ 4 billion partnership with the Seven Network of Australia. On January 23, 2007, KKR announced it would invest $ 700 million through a PIPE investment in Sun Microsystems . In January 2008, KKR announced it had made

469-496: A Canadian income trust . In 2004 a consortium comprising KKR, Bain Capital and real estate development company Vornado Realty Trust announced the $ 6.6 billion acquisition of Toys "R" Us , the toy retailer. A month earlier, Cerberus Capital Management made a $ 5.5 billion offer for both the toy and baby supplies businesses. The Toys "R" Us buyout was one of the largest in several years. Following this transaction, by

536-460: A group of divisions that it could sell to reduce debt. Over the coming years, RJR would pursue a number of additional restructurings, equity injections, and public offerings of stock to provide the company with added financial flexibility. KKR contributed $ 1.7 billion of new equity into RJR in July 1990 to complete a restructuring of the company's balance sheet. KKR's equity contribution as part of

603-420: A leading producer of food and tobacco products, formed in 1985 by the merger of Nabisco Brands and R.J. Reynolds Tobacco Company . In October of that year, Johnson proposed a $ 17 billion ($ 75 per share) management buyout of the company with the financial backing of investment bank Shearson Lehman Hutton and its parent company, American Express . Several days later, Kravis, who had originally suggested

670-607: A new $ 17.6 billion fund, the KKR 2006 Fund, with which the firm began executing a series of some of the largest buyouts in history. KKR's $ 44 billion takeover of Texas-based power utility TXU in 2007 proved to be the largest leveraged buyout of the mid-2000s buyout boom and the largest buyout completed to date. Among the most notable companies acquired by KKR in 2006 and 2007 were the following: Other non-buyout investments completed by KKR during this period included Legg Mason , Sun Microsystems , Tarkett, Longview Power Plant , and Seven Network . In October 2006, KKR acquired

737-612: A number of highly successful investments, the $ 27 million investment in Cobblers ended in bankruptcy. By 1976, tensions had built up between Bear Stearns and Kohlberg, Kravis and Roberts, which led to the formation of Kohlberg Kravis Roberts & Co. Most notably, Bear Stearns executive Cy Lewis had rejected repeated proposals to form a dedicated investment fund within Bear Stearns. The name had been planned to be Kohlberg Roberts Kravis, but public relations advisors preferred

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804-496: 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. During the early 1990s, K-III continued acquiring publishing assets, including a $ 650 million acquisition from News Corporation in 1991. K-III went public, however instead of cashing out, KKR continued to make new investments in

871-458: 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. Six of KKR's portfolio companies completed IPOs in 1991, including RJR Nabisco and Duracell . As the new decade began, KKR began restructuring RJR. In January 1990, it completed the sale of RJR's Del Monte Foods to a group led by Merrill Lynch . KKR had originally identified

938-645: Is a constitutional officer within the executive branch of the government of the U.S. state of Oregon , elected by statewide vote to serve a four-year term. As chief financial officer for the state, the office holder heads the Oregon State Treasury, and with the Governor and Secretary of State , serves on the Land Board . The current state treasurer is Tobias Read , who was elected in 2016 , and won reelection in 2020 . Those who served as

1005-522: Is headquartered at 30 Hudson Yards , Manhattan, New York, with offices in Beijing , Dubai , Dublin , Houston, Hong Kong , London , Luxembourg , Madrid , Menlo Park , Mumbai , Paris , Riyadh , San Francisco , São Paulo , Seoul , Singapore , Shanghai , Sydney and Tokyo . In a 2016 interview with Bloomberg, founder Henry Kravis described KKR in terms of three broad buckets: private markets, public markets, and capital markets. While running

1072-484: Is set to make an investment into Indian digital company Jio Platforms . It was reported that KKR was negotiating to buy a $ 1.5bn stake of a maximum value reach of $ 65bn for Jio Platforms. 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. Despite the COVID-19 pandemic , the company reported a profit of $ 16 billion in

1139-708: The Euronext exchange, replacing KPE, and anticipated a listing on the New York Stock Exchange in 2010. The public entity represented a 30% interest in Kohlberg Kravis Roberts. In December 2011, Samson Investment Company was acquired by a group of private equity investors led by KKR for approximately $ 7.2 billion and Samson Resources Corporation was formed. With the severe downturn in oil and natural gas prices, in September 2015,

1206-790: The Investment Company Act 1940 is private investment companies , which are simply private companies that make investments in stocks or bonds, but are limited to under 250 investors and are not regulated by the SEC. These funds are often composed of very wealthy investors. Investment companies that choose to register under the Investment Company Act of 1940, or any investment fund that is subject to similar regulation in another jurisdiction are considered regulated funds. This provides certain protections and oversight for investors. Regulated funds normally have restrictions on

1273-574: The Investment Company Act of 1940 . A fourth and lesser-known type of investment company under the Investment Company Act of 1940 is a Face-Amount Certificate Company . Investment companies should not be confused with investment platforms such as eToro , Robinhood , Fidelity and E-Trade, which are digital services or tools that enable investors to access and manage various financial instruments such as stocks, bonds, mutual funds, exchange-traded funds (ETFs), options, futures, cryptocurrencies, and real estate. A major type of company not covered under

1340-525: The Oregon State Treasury's public pension fund invested in KKR's acquisition of retailer Fred Meyer, Inc. Oregon State remains an active investor in KKR funds. In 1979 KKR completed a risky, precedent-setting ($ 380 million) 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

1407-521: The credit rating of RJR's debt from junk to investment grade . 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

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1474-515: The $ 8 billion buyout of Harman. By the end of the day, Harman's shares had plummeted by more than 24% upon the news. In 2007, KKR filed with the Securities and Exchange Commission to raise $ 1.25 billion by selling an ownership interest in its management company. The filing came less than two weeks after the initial public offering of rival private equity firm Blackstone Group . KKR had previously listed its KPE vehicle in 2006, but for

1541-886: The 1930s like the 1933 Securities Act restored investor confidence. A number of innovations then led to steady growth in investment company assets and accounts over the decades. The Investment Company Act of 1940 regulates the structure and operations of investment companies. It requires registration and disclosure for companies with over 100 investors. The act governs investment company capital, custody of assets, transactions with affiliates, and fund board duties. The Investment Advisers Act of 1940 regulates investment advisers to registered funds and other large advisers. It establishes registration, recordkeeping, reporting and other requirements for advisers. The Securities Exchange Act of 1934 regulates trading, buying and selling of securities including investment company shares. It governs broker-dealers who sell fund shares. In 1938, it authorized

1608-504: The 1990s would be one of its least successful. In January 1998, KKR and Hicks, Muse, Tate & Furst agreed to the $ 1.5 billion buyouts of Regal Entertainment Group . KKR and Hicks Muse had initially intended to combine Regal with Act III Cinemas , which KKR had acquired in 1997 for $ 706 million and United Artists Theaters , which Hicks Muse had agreed to acquire for $ 840 million in November 1997. Shortly after agreeing to

1675-478: The 2007 buyout of TXU , which is currently the largest buyout completed to date. In October 2009, KKR listed shares in the company through KKR & Co., an affiliate that holds 30% of the firm's ownership equity , with the remainder held by the firm's partners. In March 2010, KKR filed to list its shares on the New York Stock Exchange (NYSE), with trading commencing four months later, on July 15, 2010. The firm employed 4,490 employees as of December 31, 2023. KKR

1742-476: The Australian hospitality industry with a portfolio of 200+ venues. In mid-July 2018, KKR purchased RBMedia , one of the largest independent publishers and distributors of audiobooks . On July 22, 2018, KKR & Co. announced it was taking over Taipei-based LCY Chemical Corp. in a deal valued at NT$ 47.8 billion ($ 1.56 billion US), part of a plan for more transactions involving controlling stakes in

1809-706: The Company went into Chapter 11 bankruptcy and during its bankruptcy process, sold several large assets. In 2012, KKR made its first retail real-estate investment in Yorktown Center in Illinois. In March 2013, KKR exited its joint venture in music company BMG Rights Management , selling its 51% stake to Bertelsmann . In January 2014, KKR acquired Sedgwick Claims Management Services Inc for $ 2.4 billion from two private equity companies - Stone Point, and Hellman & Friedman . In June 2014, KKR announced it

1876-459: The Forstmann consortium came apart and did not provide a final bid for RJR. In November 1988, RJR set guidelines for a final bid submission at the end of the month. The management and Shearson group submitted a final bid of $ 112, a figure they felt certain would enable them to outflank any response by Kravis and KKR. KKR's final bid of $ 109, while a lower dollar figure, was ultimately accepted by

1943-724: The Greater China region. 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. In February 2019, KKR acquired Brightsprings, and in a May 2022 letter from four United States Senators, Joe Bae and Scott Nutall were asked to explain the substandard care since their acquisition. KKR acquired the German media company Tele München Gruppe . Later that month, KKR acquired German film distributor Universum Film GmbH. In Apri 2019, KKR acquired German film production company Wiedemann & Berg Film Production with

2010-529: The Q2 for 2020. Investment company Investment companies are designed for long-term investment, not short-term trading . Investment companies do not include brokerage companies, insurance companies, or banks. In United States securities law , there are at least five types of investment companies: In general, each of these investment companies must register under the Securities Act of 1933 and

2077-461: The Regal takeover, the deal with United Artists fell apart, destroying the strategy to eliminate costs by building a larger combined company. Two years later, in 2000, Regal encountered significant financial issues and was forced to file for bankruptcy protection; the company passed to billionaire investor Philip Anschutz . At the start of the 21st century, the landscape of large leveraged buyout firms

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2144-710: The US Federal Deposit Insurance Corporation . In January 1996, KKR would exchange its investment for a 7.5% interest in Fleet Bank . KKR completed the 1992 buyout of American Re Corporation from Aetna as well as a 47% interest in TW Corporation , later known as The Flagstar Companies and owner of Denny's in 1992. Among the other notable investments KKR completed in the early 1990s included World Color Press (1993–95), RELTEC Corporation (1995) and Bruno's (1995). By

2211-827: The United States, regulated funds include not only open-end mutual funds and exchange-traded funds, but also unit investment trusts and closed-end funds. In Europe, regulated funds encompass UCITS (Undertakings for Collective Investment in Transferable Securities) like ETFs and money market funds, as well as alternative investment funds known as AIFs. In many countries, regulated funds may also include institutional funds limited to non-retail investors, funds offering principal guarantees, and open-end real estate funds investing directly in property assets. The first investment trusts were established in Europe in

2278-865: The advantages of diversification previously only available to the wealthy. The Scottish American Investment Trust , founded in 1873, was one of the first funds to invest in American securities and help finance the post- Civil War U.S. economy. This established a link between British fund models and U.S. markets. The first mutual fund, or open-end fund, was introduced in Boston in 1924 by the Massachusetts Investors Trust. This fund introduced innovations like continuous share offerings, share redemptions, and clear investment policies. The 1929 stock market crash and Great Depression temporarily hampered investment funds. But new securities regulations in

2345-438: The board of directors of RJR Nabisco. 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. Additionally, many in RJR's board of directors had grown concerned at recent disclosures of Ross Johnson's unprecedented golden parachute deal. Time magazine featured Johnson on the cover of their December 1988 issue along with

2412-485: The buyout. KKR collected a $ 75 million fee in the RJR takeover. At $ 31.1 billion of а transaction value (including assumed debt), RJR Nabisco was, at the time, by far the largest leveraged buyout in history. The 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

2479-449: The company in 1998, 2000 and 2001 to support acquisition activity. 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 1991, KKR partnered with Fleet/Norstar Financial Group in the 1991 acquisition of the Bank of New England , from

2546-471: The corporate finance department for Bear Stearns in the 1960s and 1970s, Jerome Kohlberg , and later Henry Kravis and George Roberts , completed a series of what they described as "bootstrap" investments. They targeted family-owned businesses, many of which had been founded in the years following World War II , that were facing succession issues. Many of these companies lacked a viable exit for their founders because they were too small to be taken public and

2613-451: The creation of self-regulatory organizations like FINRA to oversee broker-dealers. The Securities Act of 1933 requires public securities offerings, including of investment company shares, to be registered. It also mandates that investors receive a current prospectus describing the fund. This article about investment is a stub . You can help Misplaced Pages by expanding it . Oregon State Treasurer The Oregon state treasurer

2680-483: The early 1990s, the absence of an active high yield market prompted KKR to change its tactics, avoiding large leveraged buyouts in favor of industry consolidations through what was described as leveraged buildups or rollups . One of KKR's largest investments in the 1990s was the leveraged buildup of Primedia in partnership with former executives of Macmillan Publishing , which KKR had failed to acquire in 1988. KKR created Primedia's predecessor, K-III Communications ,

2747-535: The end of 2004 and in 2005, major buyouts were once again becoming common and market observers were stunned by the leverage levels and financing terms obtained by financial sponsors in their buyouts. In 2005, KKR was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $ 11.3 billion. KKR's partners in the acquisition were Silver Lake Partners , Bain Capital , Goldman Sachs Capital Partners , Blackstone Group , Providence Equity Partners , and TPG Capital . This represented

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2814-510: The firm invested $ 90 million in lighting and electrics firm Savant Systems . 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.com , previously owned by Exponent. The purchase sum

2881-548: The firm was responsible for the 1988 leveraged buyout of RJR Nabisco . RJR Nabisco was the largest buyout in history at that time, at $ 25 billion, and remained the largest buyout for the next 17 years. The deal was chronicled in Barbarians at the Gate: The Fall of RJR Nabisco , and later made into a television movie starring James Garner . In 1988, F. Ross Johnson was the president and CEO of RJR Nabisco ,

2948-510: 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. Rival private equity firm Forstmann Little & Co. was invited into the process by Shearson Lehman but attempted to provide a bid for RJR with a consortium of Goldman Sachs Capital Partners , Procter & Gamble , Ralston Purina and Castle & Cooke . Ultimately,

3015-474: The first time, KKR would offer investors an ownership interest in the management company itself. The onset of the credit crunch and the shutdown of the IPO market dampened the prospects of obtaining a valuation attractive to KKR. The flotation was repeatedly postponed and called off by the end of August. The following year, in July 2008, KKR announced a new plan to list its shares. The plan called for KKR to complete

3082-466: The following month, it acquired PharMerica for $ 1.4 billion including debt, Pepper Group for $ 518 million, Covenant Surgical Partners, and Envision Healthcare Corporation's ambulance business ( American Medical Response, Inc. (AMR) ) for $ 2.4 billion. On July 6, 2017, KKR announced it would merge Northern California Mi Pueblo and Ontario-based Cardenas Market. On September 18, 2017, Toys "R" Us, Inc. filed for Chapter 11 bankruptcy , stating

3149-660: The founders were reluctant to sell out to competitors. In 1964, Lewis Cullman acquired and then sold Orkin Exterminating Company in what some call the first significant leveraged buyout transaction. In the following years the three Bear Stearns bankers completed a series of buyouts including Stern Metals (1965), Incom (a division of Rockwood International, 1971), Cobblers Industries (1971), and Boren Clay (1973), as well as Thompson Wire, Eagle Motors and Barrows through their investment in Stern Metals. Despite

3216-419: The headline, "A Game of Greed: This man could pocket $ 100 million from the largest corporate takeover in history. Has the buyout craze gone too far?". 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. Johnson received $ 53 million from

3283-577: The idea of the buyout to Johnson, presented a new bid for $ 20.3 billion ($ 90 per share) financed with an aggressive debt package. KKR had the support of equity co-investments from pension funds and other institutional investors , including 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

3350-589: The largest leveraged buyout completed since the takeover of RJR Nabisco in 1988. SunGard was the largest buyout of a technology company until the Blackstone -led buyout of Freescale Semiconductor . The SunGard transaction was notable given the number of firms involved in the transaction, the largest club deal completed to that point. The involvement of seven firms in the consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive. In 2006, KKR raised

3417-590: The late 1700s by a Dutch trader who wanted to enable small investors to pool their funds and diversify. This is where the idea of investment companies originated, as stated by K. Geert Rouwenhorst . In the 1800s in England, "investment pooling" emerged with trusts that resembled modern investment funds in structure. For example, the Foreign and Colonial Government Trust formed in London in 1868 provided small investors

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3484-460: The latter company's television arm W&B Television remained a separate entity. Two months later in July 2019, KKR acquired the Canadian software company Corel . In August 2019, KKR acquired Arnott's , the Australian snack unit of Campbell Soup Company , for $ 2.2 billion. Later that month, KKR became the biggest shareholder of German media group Axel Springer , paying $ 3.2 billion for

3551-460: The library and publishing industry; the acquisition was finalized in June 2020. In May 2020, KKR announced that it will be investing $ 750 million in cosmetics producer Coty . A separate plan was revealed in which several divisions of Coty are set to be spun out into a new company. According to the deal, KKR will own 60%, while Coty 40% of the new business. The same month, it was announced that KKR

3618-461: The mid-1990s, the debt markets were improving and KKR had moved on from the RJR Nabisco buyout. 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. KKR was required by its investors to reduce the fees it charged and to calculate its carried interest based on

3685-510: The move would give it flexibility to deal with $ 5 billion in long-term debt, borrow $ 2 billion so it would be able to pay suppliers for the upcoming holiday season and invest in improving current operations. During 2017, KKR purchased an 80 percent stake in Dixon Hospitality Group for A$ 190 million in 2017 which turned into the company Australian Venue Co. (AVC). AVC is a food and beverage-focused operator in

3752-462: The original leveraged buyout of RJR had been only $ 1.5 billion. In mid-December 1990, RJR announced an exchange offer that would swap debt in RJR for a new public stock in the company, effectively an unusual means of taking RJR public again and simultaneously reducing debt on the company. RJR issued additional stock to the public in March 1991 to reduce debt further, resulting in an upgrade of

3819-421: The previous year. It soon ended in a spectacular failure, breakup of the half-a-century-old company and loss of thousands of jobs, even though creditors earned a profit. The firm's acquisitions during the 1980s buyout boom include: At age 61, Kohlberg resigned in 1987 (he later founded his own private equity firm, Kohlberg & Co. ), and Henry Kravis succeeded him as senior partner. Under Kravis and Roberts,

3886-548: The sound of KKR. The new KKR completed its first buyout, of manufacturer A.J. Industries, in 1976. KKR raised capital from a small group of investors including the Hillman Company and First Chicago Bank . By 1978, with the revision of the ERISA regulations, the nascent KKR was successful in raising its first institutional fund with over $ 30 million of investor commitments. In 1981, KKR expanded its investor base after

3953-498: The territory of the Wet'suwet'en Nation , which opposes the project. Enforcement of an injunction to build through the Wet'suwet'en territory has sparked widespread protests across Canada . In the final days of 2019, KKR announced it would acquire OverDrive, Inc. , a major distributor of eBooks to libraries. The potential for consolidation with KKR subsidiary RBMedia was quickly noted in

4020-588: The total profit of the fund (i.e., offsetting losses from failed deals against the profits from successful deals). KKR's activity level would accelerate over the second half of the 1990s making a series of notable investments including Spalding Holdings Corporation and Evenflo (1996), Newsquest (1996), KinderCare Learning Centers (1997), Amphenol Corporation (1997), Randalls Food Markets (1997), The Boyds Collection (1998), MedCath Corporation (1998), Willis Group Holdings (1998), Smiths Group (1999), and Wincor Nixdorf (1999). KKR's largest investment of

4087-573: The types and amounts of investments the fund manager can make. Typically, regulated funds may only invest in listed securities and no more than 5% of the fund may be invested in a single security. The majority of investment companies are mutual funds, both in terms of number of funds and assets under management. The International Investment Funds Association defines regulated funds as open-end collective investment vehicles that are subject to substantive regulation. Open-end funds allow investors to purchase new shares or redeem existing shares on demand. In

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4154-584: Was changing. Several large and storied firms, including Hicks Muse Tate & Furst and Forstmann Little & Company were dragged down by heavy losses in the bursting of the telecom bubble . Although KKR's track record since RJR Nabisco was mixed, losses on such investments as Regal Entertainment Group , Spalding , Flagstar and RentPath (previously K-III Communications) were offset by successes in Willis Group, Wise Foods, Inc. , Wincor Nixdorf and MTU Aero Engines , among others. Additionally, KKR

4221-418: Was founded in 1976 by Jerome Kohlberg Jr. , and cousins Henry Kravis and George R. Roberts , all of whom had previously worked together at Bear Stearns , where they completed some of the earliest leveraged buyout transactions. 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

4288-640: Was not disclosed. On October 12, 2015, KKR announced that it had entered into definitive agreement with Allianz Capital Partners to acquire their majority stake in Selecta Group, a European vending services operator. In 2016, KKR purchased two Hispanic grocery chains, Northern California Mi Pueblo and Ontario, California –based Cardenas. In February 2016, KKR invested $ 75 million in commercial real estate lender A10 Capital. On September 1, 2016, KKR announced that it had acquired Epicor Software Corporation , an American software company. In October 2016, it

4355-552: 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. The directories business would be taken public in 2004 as Yellow Pages Income Fund ,

4422-610: Was reported that KKR invested $ 250 million in OVH to be used for further international expansion. This funding round valued OVH at over $ 1 billion, making it a unicorn . In December 2016, the Lonza Group announced it would acquire Capsugel for $ 5.5 billion from Kohlberg Kravis Roberts. In February 2017, KKR was reported to be trying to take over the international market research company ARI GfK SE . In July 2017, KKR acquired WebMD Health Corp for $ 2.8 billion and,

4489-720: Was taking a one-third stake in Spanish energy business Acciona Energy , at a cost of €417 million ($ 567 million). The international renewable energy generation business operates renewable assets, largely wind farms , across 14 countries including the United States , Italy and South Africa . In August 2014, KKR announced it was investing $ 400 million to acquire Fujian Sunner Development, China's largest chicken farmer, which breeds, processes and supplies frozen and fresh chickens to consumers and corporate clients, such as KFC and McDonald's, across China. In September 2014,

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