• born this way


    8 Year-Old Henry Kravis Wasn’t About To Let His Cousin Get A Free Ride

    Kravis and Roberts first cousins; Kravis’ mother and Roberts’ father were siblings. Both learned the energy business from their fathers. Roberts’ father was an oil broker in Houston who took his son to business meetings; Kravis’ father was a petroleum engineer in Tulsa. The Kravis and Roberts families spent summers and holidays together, and the […]

    / May 20, 2014 at 4:02 PM
  • Banks

    Ex-Jamie Dimon Protégé Pays $10 Million To Be Friends With Him Again

    Frank Bisignano isn’t coming right out and saying he’s sorry that his company hired all of those JPMCers right after he quit, but he is offering an olive branch wrapped with a novelty-sized check.

    / Jan 27, 2014 at 4:16 PM
  • henrykravischipotle


    Caption Contest Friday: Henry Kravis Well Aware That If You Want Something Done Right, You’ve Got To Do It Yourself

    Henry Kravis patiently waiting for some Chipotle in midtown this afternoon. It appears that someone has had it with assistants who apparently need “half black, half pinto” tattooed to their wrist.

    / May 24, 2013 at 1:51 PM
  • How long do you think this will be the top Google Images result for Bain Capital?

    Private Equity

    Judge Decides LBO Boom Could Have Used A Few More Bidding Wars

    The antitrust lawsuit against all the big private equity firms, accusing them of colluding with each other to drive down prices on LBOs in the 2003-2007 boom, was always a bit of a puzzler. On the one hand, there were lots of emails between private equity firms that they’d probably like back, to the effect […]

    / Mar 13, 2013 at 6:51 PM
  • News

    Kravis, Roberts Have a Pretty Good Year

    KKR investors—in both senses of the word—did well last year. Two in particular did very, very well.

    / Feb 25, 2013 at 5:17 PM
  • I would certainly buy bonds from this man

    Private Equity

    Blackstone Getting Into The Lazy-Investment-Banking Business

    Underwriting a stock or bond deal can be very difficult and work-intensive: you need to coordinate your t-shirts for the pitch, manage logistics ranging from prospectus writing to investor-lunch-sandwich-buying, and actually convince investors to buy whatever it is you’re selling. But it can also be very easy. The limit case of easy underwriting is: Your […]

    / Feb 4, 2013 at 11:01 AM
  • PHOTOGRAPHIC EVIDENCE of private equity firms colluding to drive down deal prices.


    Buyout Lawsuit May Be Tripped Up By Skeletons Of Previous Buyout Lawsuits

    If you’re Blackstone or KKR, are you on balance pleased or not pleased that Bain Capital’s favorite son is running for president? On the one hand, millions more people now think that they know what “private equity” is – and that they don’t like it – than did a year ago, and that loosely coagulated […]

    / Sep 12, 2012 at 6:38 PM
  • John_Mack-260x284


    John Mack Takes Another Job That Doesn’t Involve Selling Shoes At Bergdorf Goodman

    Earlier today, KKR announced that former Morgan Stanley Chairman and CEO John Mack will be joining the private equity firm as a senior adviser, “supporting new investing activities and providing counsel to KKR portfolio companies.” Including the new gig, Mack is now working three jobs, the others being “part-time adviser” to Morgan Stanley and author (as previously noted, he’s working on a book). And while it’s nice to see him keeping busy, you know what these little diversions don’t leave a lot of time for? Going after his dream.

    As you may recall, back in December Mack told a room full of Morgan Stanley employees that if he hadn’t become a banker, he would have been a women’s shoe salesman and that in the years since he chose one path over another, the former has never come close to replacing the latter when it comes to things that light a fire inside him. Even when he was CEO of Credit Suisse and Morgan Stanley, Mack found time to stop by Bergdorf Goodman and “watch the fierce New York ladies trying on Manolo Blahniks,” often advising them on what to purchase, based on which pairs spoke to him and which did not (“Those– those are the ones. Get them,” he would say with undeniably certainty). Which was why, Mack said with a glimmer in his eye, his retirement would include being a “part-time salesman at Berdorf’s.”

    And, yet, here we are, more than three months later, and no such job has been procured. What’s more, a spokeswoman for the department store has said that despite possessing an undeniable love and appreciation for shoes and being a born salesman, in order to work the floor, Mack would have to go through the same training program, just like everyone else, and he hasn’t even filled out the application to do so.

    Why the hold up? It seems pretty obvious that when it comes to the thing that makes him feel alive someone is scared. Not scared to fail– hell, he knows he can move that product. But scared the reality won’t live up to the dream. Scared that years from now, selling shoes will just be a slog like everything else. So he takes these bull shit little advisory jobs so he can say he “just doesn’t have the time” when the topic comes up, knowing full well that he goes to sleep at night and wakes up in the morning thinking about women’s shoes and that nothing, and we mean nothing, will ever compare to feeling he’ll get running back and forth to the stock room juggling six different styles in 3 different sizes, working his ass off to make that sale. The sooner he realizes that, the better. He obviously told the MS people about his little-known passion/plan for reason: to make himself accountable. If you see Mack today or next week or the week after, [tell him to go for it.]

    John Mack To Join KKR As Senior Adviser [Deal Journal]

    / Mar 27, 2012 at 1:57 PM
  • News

    How To Succeed On Wall Street Without Trying, Like, At All

    As we surely needn’t tell you, when one is a high-powered college student expecting to graduate with a bachelor’s degree from Penn next year, one does not have a lot of time on his or her hands. Every moment is precious and efficiency is of the utmost importance. While you might think you already do […]

    / Sep 28, 2011 at 3:36 PM
  • News

    Raj Rajaratnam Did Not Appreciate Rajat Gupta’s Attempt To Leave The Goldman Board, Join ‘The Billionaire Circle’

    As previously discussed, one of the bigger revelations that could cause issues for Raj Rajaratnam is that his “business associate and friend,” Rajat Gupta, passed him inside information obtained from Gupta’s post as a board member of Goldman Sachs, which the Galleon founder proceeded to (allegedly!) trade on. In one particular instance, on October 23, […]

    / Mar 14, 2011 at 9:03 AM
  • News

    Goldman Prop Team Moves In With Henry Kravis

    The Principal Strategies group has a new home starting in January.

    / Oct 21, 2010 at 10:32 AM
  • News, Private Equity

    KKR In Talks With Goldman Sachs Principle Strategies?

    Yes, though the situation is fluid. Kate Kelly reports:

    / Sep 8, 2010 at 11:15 AM
  • News, Private Equity

    Tax on Carried Interest Moving Closer to Reality

    A new proposal to tax carried interest as ordinary income was just attached to a larger tax and spending bill that could be voted on by the House as early as tomorrow.

    / May 20, 2010 at 1:31 PM
  • News, Private Equity

    Washington Poses Big Risks to KKR Offering

    We know every investor out there wants a chance to get a piece of Henry Kravis and George Roberts. But, KKR’s latest public filing, in which it seeks to sell $500 million worth of shares on the NYSE, is littered with “risk factors” that might make you a bit skittish. The most significant come from […]

    / May 12, 2010 at 12:37 PM
  • News

    KKR Don’t Need No Stinkin’ Leverage (Other Government Cheese OK)

    It must be a measure of the times that a firm that regards itself with such favor would deign to even consider participating in something so base as a government recovery program, much less discuss it on the record. Or perhaps Mr. Kravis is just a lot more loose-lipped than he used to be. That’s […]

    / May 22, 2009 at 10:21 AM
  • News

    Bottom Line In The Sand

    The timing seems unusual, what with Dubai’s burdensome debt load (think whole number multiples of GDP) the collapse of construction, abysmal human rights conditions for workers (stolen passports, indentured servitude) and increasingly obvious issues with the Dubai judicial system. Dubai poses as a western-friendly jurisdiction, but it is anything but when expats fall to the […]

    / May 11, 2009 at 11:40 AM
  • News

    Just Not Quick Enough On The Trigger

    I fear I have bad tidings, everyone. KKR’s much anticipated IPO is… delayed. It brings me great sadness to bring you the news. Truly. If nothing else, we were really looking forward to the speculation that was sure to swirl around the details of the IPO party. But then, KKR has been two steps behind […]

    / Nov 3, 2008 at 10:40 AM
  • News

    The Only Thing Worse Than A Backhanded Compliment Is A Crabhanded One

    LAST month, as Henry R. Kravis, the co-founder of Kohlberg Kravis Roberts & Company, and his wife, Marie-Josée, took their seats at the Water Cube in Beijing for a session of synchronized diving at the Olympics, they quickly recognized a couple sitting nearby: Stephen A. Schwarzman, the co-founder of the Blackstone Group, and his wife, […]

    / Sep 8, 2008 at 1:34 PM
  • News

    Caption Contest Monday

    / Jul 28, 2008 at 10:36 AM
  • Private Equity

    Union Activists Plan Protests Against KKR

    Union activists plan to demonstrate outside of the New York headquarters of private equity giant Kohlberg Kravis Roberts & Co today, calling for higher taxes on buyout firms, better treatment of workers and more attention to environmental concerns. The protest will be the latest in a series of protests that have been organized against private […]

    / Jul 17, 2008 at 8:42 AM

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