KKR & Co. Inc., founded in 1976, manages various alternative asset classes. It is a pioneer in private equity and known for leveraged buyouts.
On May 1, 1976, Henry Kravis and George Roberts co-founded KKR alongside their mentor Jerome Kohlberg with $120,000, launching what we now know as the alternatives industry.
By 1978, KKR successfully raised its first institutional fund with over $30 million of investor commitments, following the revision of ERISA regulations.
In 1979, KKR staged its first large public-to-private transaction with the buyout of Houdaille Industries, marking a significant milestone for the firm.
In 1982, Oregon, Washington, and Michigan public pension funds become the first to invest in KKR's private equity funds, showcasing the growing trust in the firm's investment strategies.
In 1984, KKR successfully completed its first buyout of a public company, Malone & Hyde.
In 1985, KKR acquired Storer Communications for a record $2.5 billion, expanding its portfolio in the communications sector.
At age 61, Kohlberg resigned in 1987, leading to Henry Kravis succeeding him as senior partner at KKR, marking a significant leadership transition.
At $31.1 billion, the RJR Nabisco leveraged buyout orchestrated by KKR in 1988 was the largest in history at the time. The deal's aftermath and controversies surrounding the bidding process continued to be discussed in the early 1990s.
In April 1989, the buyout of RJR Nabisco was finalized by KKR. This marked the beginning of a period where KKR focused on repaying the substantial debt of RJR through asset sales and restructuring.
In January 1990, KKR completed the sale of RJR's Del Monte Foods to a group led by Merrill Lynch as part of the restructuring efforts to reduce debt.
In July 1990, KKR injected $1.7 billion of new equity into RJR to restructure the company's balance sheet, surpassing its original equity contribution during the leveraged buyout.
In March 1991, RJR issued more stock to the public to further decrease its debt, leading to an improvement in the credit rating of RJR's debt from junk to investment grade.
In 1994, KKR exchanged its ownership stake in RJR Nabisco for full ownership of Borden, a dairy and chemical company.
In 1995, KKR completely divested its remaining stake in RJR Nabisco when Borden sold a block of stock, marking the end of KKR's ownership in RJR.
Scott C. Nuttall joined KKR in 1996 and played a significant role in transforming the company from a private equity firm into an investment firm. He later became co-CEO and was considered a potential successor to the founders.
Saul A. Fox departed KKR in 1997 to establish Fox Paine & Company, a middle market private equity firm with significant capital under management.
In January 1998, KKR and Hicks, Muse, Tate & Furst agreed to the $1.5 billion buyout of Regal Entertainment Group, expanding KKR's presence in the entertainment sector.
In 2000, Regal Entertainment Group faced significant financial issues and filed for bankruptcy protection, leading to the company being acquired by billionaire investor Philip Anschutz.
Ted Ammon, a former KKR member, was murdered in his Long Island home in October 2001. The case involved his estranged wife's lover, Generosa, who was later convicted.
In July 2004, KKR agreed to sell its stock in Borden Chemical to Apollo Management for $1.2 billion, realizing the final remnants of its 1989 investment.
In 2005, KKR diversified its operations by entering the Asian market, setting up offices in Tokyo and Hong Kong to expand its presence in the region.
In 2006, KKR introduced its Capital Markets division, focusing on activities related to financial markets and investment banking.
In 2007, KKR completed the buyout of TXU, which was the largest buyout completed by the firm at that time. This transaction further solidified KKR's position in the private equity market.
In 2008, KKR established an Environmental, Social, and Governance (ESG) platform to integrate sustainability and responsible investment practices into its operations.
In October 2009, KKR listed shares in the company through KKR & Co. An affiliate holds 30% of the firm's ownership equity, with the remainder held by the firm's partners. Trading of KKR shares commenced on July 15, 2010, after filing to list on the New York Stock Exchange in March 2010.
In 2010, KKR made its debut on the New York Stock Exchange (NYSE), becoming a publicly traded company and offering shares to investors.
In December 2011, KKR led a group of private equity investors to acquire Samson Investment Company for $7.2 billion, forming Samson Resources Corporation.
In 2012, KKR made its first retail real estate investment by acquiring Yorktown Center in Illinois.
In March 2013, KKR sold its 51% stake in music company BMG Rights Management to Bertelsmann, exiting the joint venture.
In January 2014, KKR acquired Sedgwick Claims Management Services Inc for $2.4 billion from Stone Point and Hellman & Friedman.
In June 2014, KKR acquired a one-third stake in Acciona Energy's Spanish energy business for €417 million, expanding its renewable energy portfolio.
In August 2014, KKR invested $400 million to acquire China's largest chicken farmer, Fujian Sunner Development, known for supplying chicken products to major brands like KFC and McDonald's.
In September 2014, KKR invested $90 million in lighting and electrics firm Savant Systems.
On October 12, 2015, KKR entered into a definitive agreement with Allianz Capital Partners to acquire their majority stake in Selecta Group, a European vending services operator.
On September 1, 2016, KKR acquired Epicor Software Corporation, an American software company.
In February 2017, KKR was reported to be pursuing the takeover of international market research company ARI GfK SE.
In July 2017, KKR acquired WebMD Health Corp for $2.8 billion, expanding its presence in the healthcare sector.
On September 18, 2017, Toys 'R' Us, Inc. filed for Chapter 11 bankruptcy to address its long-term debt and financial challenges.
On July 22, 2018, KKR & Co. announced the acquisition of Taipei-based LCY Chemical Corp. in a deal valued at $1.56 billion, focusing on controlling stakes in the Greater China region.
Former Australian Prime Minister Malcolm Turnbull commenced his role at KKR on June 1, 2019. Turnbull's experience and expertise are expected to contribute to KKR's operations.
In June 2019, there was a retrospective look at KKR, the investment firm that acquired Toys R Us among other companies. The acquisition of Toys R Us was a significant event in the retail industry.
On January 1, 2020, KKR acquired KKR Capstone, which includes various subsidiaries dedicated to supporting KKR deal teams and portfolio companies with operating professionals.
On August 31, 2020, KKR confirmed the sale of Epicor Software Corp. to a group represented by private-equity firm Clayton, Dubilier & Rice in a $4.7 billion deal.
KKR & Co. Inc. (KKR) has shown varying dividend growth rates over different time periods, with an average of 6.45% over the past 12 months, 6.92% over the past 36 months, 2.27% over the past 60 months, and -7.24% over the past 120 months.
In February 2022, KKR acquired 8.5% of Nexon, the Japanese-South Korean video game company, while Saudi Arabian Public Investment Fund purchased a stake in Capcom and Nexon.
In April 2022, KKR announced the purchase of Barracuda Networks from Thoma Bravo, later acquiring all shares of Mitsubishi UBS Realty, a Japanese real estate asset manager.
In May 2022, KKR led a $200 million investment round in Semperis, a cybersecurity company focused on identity protection.
In June 2022, KKR rose to the top of Private Equity International's PEI 300 ranking, becoming the largest private equity firm in the world.
In October 2022, KKR acquired ISO tank services provider Boasso Global from Apax Partners.
On April 11, 2023, KKR agreed to buy a 30% stake in FGS Global for about $1.4 billion, with existing investor Golden State Capital selling its entire stake to KKR.
By the end of 2023, KKR has expanded its private equity investment professionals globally, enhancing its access to substantial global resources.
On February 15, 2024, KKR & Co. Inc.'s ex-dividend date is set, indicating that investors buying shares on or after this date will not receive the upcoming dividend payment.
On February 26, 2024, KKR announced the purchase of the EUC arm of VMware by Broadcom in a $3.8bn deal, including VDI product Horizon and device management suite Workspace ONE.
On March 1, 2024, KKR & Co. Inc. (KKR) declared a quarterly dividend per share of $0.17.