Kohlberg Kravis Roberts
Investment Year Company Description
HCA 2006 KKR and Bain Capital , together with Merrill Lynch and the Frist family ( which had founded the company ) completed a $ 31.6 billion acquisition of the hospital company 17 years after it was taken private for the first time in a management buyout . At the time of its announcement , the HCA buyout would be the first of several to set new records for the largest buyout , eclipsing the 1989 buyout of RJR Nabisco . It was later surpassed by the buyouts of EQ Office , and TXU
NXP Semiconductors 2006 In August 2006 , a consortium of KKR , Silver Lake Partners and AlpInvest Partners acquired a controlling 80.1% share of semiconductors unit of Philips for €6.4 billion . The new company , based in the Netherlands , was renamed NXP Semiconductors
TDC A/S 2006 The Danish phone company was acquired by KKR , Apax Partners , Providence Equity Partners and Permira for €12.2 billion ( $ 15.3 billion ) , which at the time made it the second largest European buyout in history
Dollar General 2007 KKR completed a buyout of the chain of discount stores operating in the U.S
Alliance Boots 2007 KKR and Stefano Pessina , the company 's deputy chairman and largest shareholder , acquired the UK drug store retailer for £12.4 billion ( $ 24.8 billion ) including assumed debt , after increasing their bid more than 40% amidst intense competition from Terra Firma Capital Partners and Wellcome Trust . The buyout came only a year after the merger of Boots Group plc ( Boots the Chemist ) , and Alliance UniChem plc
Biomet 2007 Blackstone Group , KKR , TPG Capital and Goldman Sachs acquired the medical devices company for $ 11.6 billion
First Data 2007 KKR and TPG Capital completed the $ 29 billion buyout of the credit and debit card payment processor and former parent of Western Union . Michael Capellas , previously the CEO of MCI Communications and Compaq was named CEO of the privately held company
TXU ( Energy Future Holdings ) 2007 An investor group led by KKR and TPG Capital and together with Goldman Sachs completed the $ 44.37 billion buyout of the regulated utility and power producer . The investor group had to work closely with ERCOT regulators to gain the approval of the transaction but had significant experience with the regulators from their earlier buyout of Texas Genco . TXU is the largest buyout in history and retained this distinction when the announced buyout of BCE failed to close in December 2008 . The deal was notable for a drastic change in environmental policy for the energy giant , in terms of its carbon emissions from coal power plants and funding alternative energy
History -- Since 2005 and the Buyout Boom
In 2006 , KKR raised 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 . [ 116 ] Among the most notable companies acquired by KKR in 2006 and 2007 were the following :
KKR & Co. Inc. (formerly known as Kohlberg Kravis Roberts & Co. and KKR & Co. L.P.) is an American global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. The firm has completed more than 280 private equity investments in portfolio companies with approximately $545 billion of total enterprise value as of June 30, 2017. As of September 30, 2017, Assets Under Management (AUM) and Fee Paying Assets Under Management (FPAUM) were $153 billion and $114 billion, respectively. The firm 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 the 2007 buyout of TXU, which is currently the largest buyout completed to date. KKR has offices in 21 cities in 16 countries across five continents. The firm is currently headquartered in the Solow Building (9 W. 57th Street, New York, NY), but in October 2015, the firm announced its intention to occupy a newly constructed 30 Hudson Yards. 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.