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Kohlberg Kravis Roberts & Co (KKR)
KKR, the buyout firm founded in 1976 by Henry Kravis and George Roberts, now manages roughly $308 billion in alternatives, credit, and insurance.
Kohlberg Kravis Roberts & Co (KKR)
Jerome Kohlberg, Henry Kravis, and George Roberts left Bear Stearns in 1976 to found KKR, formalizing a leveraged-buyout discipline they had pioneered within the bank. The trio's early deals — notably the $31 billion takeover of RJR Nabisco in 1989, the largest LBO in history at that time — defined an era of corporate finance and were immortalized in the book 'Barbarians at the Gate.' While Kohlberg departed in 1987, Kravis and Roberts built KKR into a diversified alternative-asset manager that went public via a Euronext Amsterdam listing in 2010, followed by a New York Stock Exchange listing in 2018. KKR's investment engine now spans private equity buyouts, growth equity, infrastructure, real estate, and a sprawling credit platform. The firm manages both traditional closed-end funds and publicly traded permanent capital vehicles — including KKR & Co. Inc. itself — giving it a stickier capital base than most peers. Portfolio holdings have included or currently include USI Insurance Services, Envision Healthcare, CitationAir, and significant infrastructure positions such as the Trans Adriatic Pipeline. The firm sources deals globally, with a heavy concentration in North America and an expanding presence across Europe and Asia Pacific. The firm reported 153 investment professionals across 20 offices worldwide as of its 2015 public filings, though headcount has grown significantly alongside AUM in the decade since. In October 2021, co-presidents Joseph Bae and Scott Nuttall succeeded Kravis and Roberts as co-CEOs, completing one of the most closely watched succession transitions in private markets (per the firm, October 2021). KKR also operates KKR Real Estate Finance Trust, a publicly traded mortgage REIT, and maintains a dedicated impact investing platform launched in 2018. The structural differentiator is KKR's balance sheet and permanent capital strategy. Unlike pure fund managers that return capital to LPs after a defined period, KKR retains a significant balance sheet that it invests alongside its funds, creating alignment and allowing the firm to pursue opportunities that require a longer underwriting horizon. The 2021 CEO handover from the founders to operators who had spent decades inside the firm demonstrated an unusual commitment to internal continuity at scale.
General information
Firm type
Generic
Year founded
1976
AUM
~$308 billion (Altss estimate)
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Joseph Bae
Co-Chief Executive Officer
Scott Nuttall
Co-Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at KKR now?
Joseph Bae and Scott Nuttall became co-CEOs in October 2021, succeeding founders Henry Kravis and George Roberts. Investment decisions are made by sector- and region-specific investment committees with oversight from the co-CEOs and senior leadership. Kravis and Roberts remain active as executive co-chairmen.
Does KKR still primarily focus on leveraged buyouts?
No. While buyouts remain a core strategy and represent the firm's historical identity, KKR has diversified significantly into growth equity, infrastructure, real estate, private credit, and insurance solutions. Credit and real assets now account for a material share of management fees and assets.
Is KKR structured as a traditional partnership or an asset manager?
KKR is a publicly traded corporation listed on the New York Stock Exchange (NYSE: KKR) since 2018. Before that, it traded on Euronext Amsterdam from 2010. The public listing created permanent capital and allowed external shareholders to invest alongside fund LPs, distinguishing its structure from privately held peers.
How is KKR's successor generation being managed?
The October 2021 transition of co-CEO roles from founders Henry Kravis and George Roberts to Joseph Bae and Scott Nuttall was a landmark succession. Bae and Nuttall had each spent roughly 25 years at the firm, ensuring institutional continuity. The founders continue to serve as executive co-chairmen with active involvement in strategic decisions.
Does KKR operate a credit platform separate from its buyout funds?
Yes. KKR manages a substantial credit and capital markets platform that includes direct lending, leveraged loans, high-yield bonds, and structured products. The credit business operates alongside — not subordinate to — the private equity platform, and it has grown to become a significant driver of the firm's earnings.
What was the RJR Nabisco deal, and why does it matter?
The 1989 acquisition of RJR Nabisco for roughly $31 billion was the largest leveraged buyout of its era and became the emblematic deal of KKR's early dominance. The transaction — documented in Bryan Burrough and John Helyar's book 'Barbarians at the Gate' — established KKR's public reputation and demonstrated the scale that LBOs could achieve.
How does KKR differentiate itself from competitors in the alternatives space?
KKR's balance sheet and permanent capital vehicles (including its own publicly traded stock) give it longer-dated funding and the ability to co-invest alongside fund LPs at scale. The firm also operates a growing global insurance platform that provides low-cost, long-duration liabilities against which it can invest.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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