The New Financial Capitalists: Kohlberg Kravis Roberts and the Creation of Corporate Value
| Author | : | |
| Rating | : | 4.80 (963 Votes) |
| Asin | : | 0521642604 |
| Format Type | : | paperback |
| Number of Pages | : | 272 Pages |
| Publish Date | : | 2016-09-09 |
| Language | : | English |
DESCRIPTION:
While the authors had some access to financial results and other in-house documents, as well as to personnel, their presentation of the data and interviews with KKR staff often reads like bland restatement of public positions, as in discussions of KKR's much criticized takeover of Safeway, or of Peter Storer's abrupt departure after KKR bought out Storer Communications. . Not specific enough for professionals, dramatic enough for casual readers or balanced enough for people in between, it is hard to imagine an audience for this book. (It "seems" he "left unexpectedly for personal reasons.") We are spared information about the fates of associates of KKR who ended up in bankruptcy (such as Executive Life, the first life insurance bankruptcy in the U.S. Both authors have worked for KKR as consultants since 1994, and have the company's blessing for th
Good primer/introduction to LBOs Adam If you're relatively new to the subject and want a good primer/introduction to LBOs, as well as some background history on the leveraged buyout and on KKR, this is a good read. It's reasonably quick and easy to read without being too dumbed down. I think that, among others, one group that would really benefit from reading this book are college students (or even MBA students) who are interested in eventually working. Detailed Treatment of early KKR-led LBO Financing Amazon Customer This is an outstanding academic treatment of the investments made by KKR, all of which were some kind of leveraged buy-out. The authors focus their attention on the transactions themselves, not the way they were viewed by society or on the people that put them together - in this regard the book is a rare gem. It treats the period up to 1990 in some depth, with some very interesting case studies that show pretty goo. "Great insight into leveraged buyouts with in depth and objective commentary" according to Lazaro campos. Highly detailed, objective and entertaining account of KKR's history. The good, the bad and the ugly. Thoroughly researched. Very credible.
Based on interviews with partners of the firm and on unprecedented access to KKR's records, George P. KKR and other companies fundamentally altered the prevailing perception of the role of debt in the modern American corporation and established an alternative model for organizing and managing corporate enterprises. It then imposed rigorous monitoring by the board of directors over the companies in its portfolio. KKR financed the companies it acquired with high levels of debt, while linking their ownership to management. A widespread misunderstanding concerning leveraged buyouts (LBOs) is the belief that they accomplish little but the ruin of companies and the loss of employment. How else could it be? Until recently, journalists, including much of the business press, have depicted LBO specialists as generally greedy, if not sinister, forces whose activities compound the dislocations of modern American economic and social life. This kind of criticism reached a crescendo in the press and in Congress at the end of the 1980s, and Kohlberg Kravis Roberts found