Word: kkr
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Dates: during 1980-1989
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This February, RJR-Nabisco became a privatecompany after a multi-billion dollar takeover byKohlberg, Kravis, Roberts and Company (KKR), aWall Street leveraged buyout firm. Harvard, whichwas invested in KKR, now owns part of RJR throughits involvement in the buyout, but can no longervote on its policies...
Gerstner, who was widely expected to succeed American Express Chairman James Robinson, 53, has never run a tobacco business. But KKR partner Henry Kravis chose Gerstner for his prowess as a strategic planner. Among other accomplishments, Gerstner launched the successful Platinum card. As chairman at RJR Nabisco, he will have to engineer the sale of about $8 billion in assets to pay off some of KKR's buyout borrowings. But his compensation will be as tall as his task: as much as $45 million over five years...
...quietly turns her assets over to the Wall Street take-over firm Kohlberg, Kravis & Roberts (KKR). The elite company begins a hostile takeover of the Sox, attempting to wrest control of the team from Jean Yawkey and Haywood Sullivan. Adams is joined in her efforts by Donald Trump and Bob Guccione...
...LBOs have been lucrative for Harvard, Sperling says. For example, Harvard's investment in the Kohlberg, Kravis, Roberts and Company (KKR) limited partnership that recently took over RJR-Nabisco "has generated significant returns for Harvard's account...
...million the University currently has invested in LBOs, Sperling says "somewhere in the low tens of millions of dollars" of that money was in the KKR deal, which was finalized last month...