Description
CAMBRIDGE UNIVERSITY PRESS The New Financial Capitalists by George P. Baker , George David Smith
Kohlberg Kravis Robertss approach to leveraged buyouts was an important aspect of the corporate restructuring and governance reforms in the American economy from the mid1970s through 1990. During that period KKR crafted a series of progressively more elaborate deals tailored to specific companies and market conditions. Through its creative debt financing and its relationships with an evolving cast of investors companies and managers KKR drove the scale and scope of the buyout phenomenon to unprecedented highs. This book first published in 1999 examines KKRs record in detail. Based upon interviews with partners of the firm and on unprecedented access to KKRs records George Baker and George Smith have written a balanced and enlightening account of how KKR has approached LBOs. The book focuses on KKRs founding evolution and innovations as ways to understand issues in modern American business. In examining KKR as a unique form of enterprise the book bridges the gap between public perception and academic knowledge of the leveraged buyout.