KKR & Company Inc

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KKR is a global investment firm, headquartered in New York City. The firm manages investments across private equity, energy, health care, infrastructure, real estate, credit and hedge funds. KKR has offices in 21 cities in 16 countries.ref

KKR offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and 3rd parties. The company operates through 4 segments:

  • Private Markets: manages and sponsors a group of private equity funds and co-investment vehicles.
  • Public Markets: operates and reports its combined credit and hedge funds businesses. Prisma Capital Partners LP manage customised hedge fund portfolios, hedge fund-of-fund solutions and direct hedge funds.
  • Capital Markets: consists primarily of its global capital markets business. Services include arranging debt and equity financing for transactions. Third-party activities are carried out by MCS Capital Markets LLC.
  • Principal Activities: manages the firm's assets and deploys capital; includes co-investments alongside its Private Markets and Public Markets funds.

Company

Shareholders

Total float: 61.3%
Source: MarketScreener.svg, Mar.2020

Structure

ToDo †{{{1}}}

Portfolio Companies

Portfolio, Investors, [KOG Investments Sarl]

ToDo: KKR History, KKR Historical Portfolio, link, History, link, Press Releases, link, link, DDG, Portfolio (2001)Archive-org-sm.svg, Portfolio (2006)Archive-org-sm.svg, link, WebsiteArchive-org-sm.svg

Current

link

Historic

link, Portfolio.archArchive-org-sm.svg


  • Nov.2017: GfK SE, Germany's largest market research institute, and the 4th largest market research organisation in the world.ref
  • Dec.2017: Unilever to sell its Spreads business to KKR.ref
  • Mar.2017: Hitachi Power Tools sold to KKR.ref
  • Jul.2016: Epicor Software Corporation was bought out.ref,ref
  • Oct.2015: Selecta TMP AG: KKR announced that it has entered into definitive agreement with Allianz Capital Partners to acquire their majority stake in the European vending services operator.ref
  • Sept.2015: Trans European Oil & Gas Ltd intends to build a portfolio of conventional onshore oil and gas properties in proven hydrocarbon plays in Europe. Star Energy.ref
  • Mar.2015: TheTrainline.com:
    Trainline-1999.svg
    KKR purchased the British rail ticket website from Exponent Private Equity LLP.ref
    • Jun.2019: Trainline.com listed its shares on the London Stock Exchange in an Initial Public Offering.AR-Feb.2019
    • Sept.2019: KKR divested the majority of its shares to institutional investors, reducing its stake to 12.4% of the group's issued share capital. A month later, KKR sold its remaining shareholdings.AR-Feb.2019,ref
  • Apr.2007: First Data Corporation, a credit and debit card payment processor and former parent of Western Union, was acquired by KKR and TPG Capital.ref,ref,ref The deal was finalised in Oct.2007.
  • Apr.2007: Alliance Boots plc: bought out in a private equity transaction, led by Stefano Pessina (Alliance Boots' CEO) and KKR. AB Acquisitions Holdings Ltd was established to own 55% of Alliance Boots GmbH’s shares.ref,ref,ref,ref,ref
  • 2007: TXU Corporation: KKR took over the Texas-based power utility company.ref,ref
  • Aug.2006: Philips Semiconductors: an 80.1% controlling interest was acquired by a consortium of private equity investors (KKR, Silver Lake Partners and AlpInvest Partners). The firm was founded in 1953 as part of the electrical and electronics firm Philips, and was its semiconductors unit. The company's name was consequently changed to NXP Semiconductors.ref,ref
  • Jul.2004: Borden Chemical: KKR sold its stake to Apollo Global Management LLC.ref
  • Jun.2004: Internet Brands was acquired from Hellman & Friedman and JMI Equity.ref
  • 2004: Toys "R" Us: a consortium comprising KKR, Bain Capital and real estate development company Vornado Realty TrustWikipedia-W.svg acquired the toy retailer.ref
  • Jul.2002: Mannesmann Plastics Machinery AG: Siemens AG announced that it is selling the world's largest plastics equipment maker, along with six other businesses, to Kohlberg Kravis Roberts & Co. What does the ownership change mean to Mannesmann's six member companies? ref,ref
  • 2010: KKR-led group to buy Del Monte Foods Inc, https://www.reuters.com/article/us-delmonte-idUSTRE6AO3G520101125
  • 1999: Smiths Group,
  • 1998: Willis Corroon Group was acquired by Trinity Acquisition in a leveraged buyout on behalf of Kohlberg Kravis Roberts; in 1999 the name Willis Group was adopted.ref,ref logo, link, Willis CorroonArchive-org-sm.svg
  • Jul.1998:
    Bristol-West-Insurance.svg
    Bristol West Holdings Inc, a privately-held Florida-based non-standard auto insurer, was acquired by Kohlberg Kravis Roberts & Company and its management from ??[1] In July 2007, KKR sold its majority shareholding to the Farmers Exchanges, a subsidiary of the Zurich Insurance Company.
  • 1995:
    Newsquest-Media-Group-1995.png
    Newsquest Media Group Ltd was formed when Kohlberg Kravis Roberts financed a management buy-out of the Reed Regional Newspapers group of British papers from Reed Elsevier. Newsquest: HistoryArchive-org-sm.svg
  • 1989: Macmillan Inc: KKR bought a piece and turned it into K-III Holdings Inc, a publishing and information resources conglomerate that had made 52 acquisitions by 1997, when it was renamed Primedia Inc.ref
  • Apr.1989:
    RJR-Nabisco.svgVulture-right.svg
    RJR Nabisco Inc, an American conglomerate selling tobacco and food products worldwide, was acquired in a highly leveraged buyout,ref widely considered to be a preeminent example of obscene corporate greed (see RJR Nabisco § The leveraged buyoutWikipedia-W.svg). KKR eventually took control after a dogfight which involved most of the major private equity players. ref
    • 1991: RJR Nabisco Holdings Corporation became a publicly traded stock again, but its shares languished for several years.
    • 1995: KKR traded its remaining holdings in RJR Nabisco for an interest in Borden Inc, an American dairy and chemical company.ref, p.7,ref In 2004, when KKR finally sold its Borden investment, it recorded a combined loss on RJR and Borden of $730m.ref
  • 1988: Duracell Inc was acquired by KKR, who took it public in 1989.
  • 1986:
    Safeway-2005-horiz.svgBloodsucker.svg
    Safeway Inc: KKR completed a "friendly buyout" to help management avoid hostile overtures from Herbert HaftWikipedia-W.svg's Dart Drug GroupWikipedia-W.svg. With KKR's "assistance", Safeway was loaded up with tremendous debt, necessitating the sale of nearly half of its 2,200 stores. Safeway was taken public again in 1990. See also Portfolio.arch.
  • 1986:
    Beatrice-Foods-Company-1984.svgBloodsucker.svg
    Beatrice Companies Inc was acquired. Kohlberg, Kravis & Roberts then spent the next 4 years dismantling the company and flogging off the bits to the highest bidders. KKR made over $45m in fees.
    • 1987: Beatrice Company was formed by KKR as a holdco for Beatrice Cheese Inc, Beatrice-Hunt/Wesson Inc, and Swift-Eckrich Inc.ref,ref
    • Aug.1990: KKR sold Beatrice Company to Conagra Brands Inc's subsidiary, CagSub Inc. The deal completed Kohlberg Kravis Roberts’ breakup and sale of Beatrice.ref

KKR & Company Inc

  • Jul.2018: KKR & Company Inc: the firm completed its conversion from KKR & Company LP, a Delaware limited partnership, into KKR & Company Inc, a Delaware corporation. The move was made after USA tax "reforms", in the hope of boosting its share price.ref (Org structure 2010, p.28).
ToDo: Form 10-K 2018
  • Mar.2010: KKR filed to list its shares on the New York Stock Exchange, with trading commencing in Jul.2010.ref
  • Oct.2009: KKR listed shares in KKR & Company Inc on the Euronext Exchange. The public entity KKR & Company holds 30% of the firm's ownership equity, with the remainder held by the firm's partners.
  • Jun.2007: KKR & Company Inc was incorporated. OC, Reuters
  • 2006: KKR listed its KPE vehicle.

KKR & Company LP

ToDo:

Kravis & Roberts

  •  ??.1987: Henry Kravis succeeded Jerome Kohlberg Jr as senior partner.

Kohlberg, Kravis, Roberts & Co. LP

  •  ??.1987: Jerome Kohlberg Jr resigned over differences in strategy. Together with his son James, he formed a new private equity firm Kohlberg & Company. Kohlberg & CompanyWikipedia-W.svg
  • May.1987: Kohlberg, Kravis, Roberts & Co. LP was incorporated. OC
  • 1976: Kohlberg Kravis Roberts & Company was founded by Jerome Kohlberg Jr, and cousins Henry Kravis and George R Roberts, all of whom had previously worked together in the corporate finance department at Bear StearnsWikipedia-W.svg.

Articles

  • Jun.02.2014: The KKR Capstone Scam: A Picture Worth 10,000 Words. Private equity kingpin KKR looks to be cheating the limited partners in its funds by not sharing fees charged to portfolio companies by its in-house consulting firm, KKR Capstone. This is a serious charge because, if the critics are right, KKR is embezzling. Yves Smith, Naked Capitalism.
  • Logos: link

References

  1. ^ Kohlberg Kravis Buys Car Insurer. Dow Jones, The New York Times, Mar.05.1998.