Word: kkr
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...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...
Since the closing of the KKR deal last week, Harvard has had equity interest in the cigarette manufacturer because the University invested from $20 to $40 million in the KKR limited parnership that bought out the company...
...extent we are invested in KKR, we will be an equity holder in the private company," Peterson said. And according to figures provided by Harvard Management Partner Scott M. Sperling, Harvard will hold less than 1 percent of RJR-Nabisco because its KKR investment made up less than 1 percent of the multi-billion dollar takeover...
...this lack of control in companieslike KKR and MSP that has led critics to questionwhether the risks associated with these agreementsare worth the money that the University gains fromthem...
Besides Harvard's investment in KKR, theUniversity has received criticism for itsinvolvement with Medical Science Partners (MSP), acorporation--independent of Harvard--which willoversee the funding and marketing of professors'biotechnical research...