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KKR & Co. L.P. Company History Timeline

1976

By 1976, tensions had built up between Bear Stearns and Kohlberg, Kravis and Roberts, which led to the formation of Kohlberg Kravis Roberts & Co.

The new KKR completed its first buyout, of manufacturer A.J. Industries, in 1976.

1977

In 1977 KKR bought three companies, but investors were hard to find and the firm made no deals the next year.

1978

By 1978, with the revision of the ERISA regulations, the nascent KKR was successful in raising its first institutional fund with over $30 million of investor commitments.

1979

In 1979, the firm staged the first large public-to-private transaction.

KKR completed the public-to-private buyout of Houdaille Industries in 1979.

1980

By the fall of 1980 the firm had paid nearly $800 million to acquire seven companies with combined annual sales totaling about $1.3 billion.

1981

In 1981, KKR expanded its investor base after the Oregon State Treasury's public pension fund invested in KKR's acquisition of retailer Fred Meyer, Inc.

1982

1982: The first equity capital fund is raised.

1983

By 1983 KKR was claiming an average annual return of 63 percent to its equity partners.

1984

After spending 1984 recovering from a serious illness, he returned to find that he was not needed or wanted by his younger partners.

1985

In 1985 the firm acquired Storer Communications for a record $2.5 billion.

1987

At age 61, Kohlberg resigned in 1987 (he later founded his own private equity firm, Kohlberg & Co.), and Henry Kravis succeeded him as senior partner.

1988

When Storer was sold in 1988, KKR's partners achieved an annual return of around 50 percent.

Under Kravis and Roberts, the firm was responsible for the 1988 leveraged buyout of RJR Nabisco.

1989

After sixteen years of efforts, including contributing new equity, taking RJR public, asset sales, and exchanging shares of RJR for the ownership of Borden, Inc., KKR finally sold the last remnants of its 1989 investment.

1990

As the new decade began, KKR began restructuring RJR. In January 1990, it completed the sale of RJR's Del Monte Foods to a group led by Merrill Lynch.

1991

A similar transaction was KKR's 1991 injection of $283 million into Fleet/Norstar Financial Group for the purchase of the assets of the failed Bank of New England.

1992

According to KKR, when the final returns from this deal were realized in 1992, limited partners enjoyed an annual return of 43 percent.

KKR completed the 1992 buyout of American Re Corporation from Aetna as well as a 47% interest in TW Corporation, later known as The Flagstar Companies and owner of Denny's in 1992.

1994

KKR began to reduce its ownership in RJR in 1994, when its stock in RJR was used as part of the consideration for its leveraged buyout of Borden, Inc., a producer of food and beverage products, consumer products, and industrial products.

1995

In 1995 KKR traded its remaining stake in RJR for ownership of Borden Inc.

1996

In 1996, KKR was able to complete the bulk of fundraising for what was then a record $6 billion private equity fund, the KKR 1996 Fund.

1998

In January 1998, KKR and Hicks, Muse, Tate & Furst agreed to the $1.5 billion buyouts of Regal Entertainment Group.

1999

Nabisco and Reynolds became independent with the 1999 spin-off of R.J. Reynolds shares.

2000

Two years later, in 2000, Regal encountered significant financial issues and was forced to file for bankruptcy protection; the company passed to billionaire investor Philip Anschutz.

2001

In 2001, however, it had to write off its barely two-year-old, $210 million investment in Birch Telecom Inc.

2002

2002: Legrand SA is acquired.

KKR was able to realize its investment in Shoppers Drug Mart through a 2002 IPO and subsequent public stock offerings.

2003

KKR looked forward to completing a $610 million purchase of International Transmission Co., an electricity transmission company, in the first quarter of 2003.

2004

In July 2004, KKR agreed to sell its stock in Borden Chemical to Apollo Management for $1.2 billion.

But once it started facing flat sales and falling profits, the Toys R Us board of directors put the company up for sale in 2004.

2005

In 2005, KKR was one of seven private equity firms involved in the buyout of SunGard in a transaction valued at $11.3 billion.

2006

In October 2006, KKR acquired a 50% stake in Tarkett, a France-based distributor of flooring products, in a deal valued at about €1.4 billion ($1.8 billion). On November 20, 2006, KKR announced it would form a A$4 billion partnership with the Seven Network of Australia.

2008

The following year, in July 2008, KKR announced a new plan to list its shares.

2009

KKR has announced that it expects to close the transaction in 2009.

2010

In October 2010, KKR acquired about nine members of Goldman Sachs Group proprietary trading team after entertaining offers from investment firms such as Perella Weinberg and Blackrock.

2011

In December 2011, Samson Investment Company was acquired by a group of private equity investors led by KKR for approximately $7.2 billion and Samson Resources Corporation was formed.

2013

In March 2013, KKR exited its joint venture in music company BMG Rights Management, selling its 51% stake to Bertelsmann.

2014

In September 2014, the firm invested $90 million in a lighting and electrics firm Savant Systems.

2015

In January 2015, KKR confirmed its purchase of the British rail ticket website thetrainline.com, previously owned by Exponent.

With the severe downturn in oil and natural gas prices, in September 2015, the Company went into Chapter 11 bankruptcy and during its bankruptcy process, sold several large assets.

2016

In October 2016, it was reported that KKR invested $250 million in OVH to be used for further international expansion.

In December 2016, the Lonza Group announced it would acquire Capsugel for $5.5 billion from Kohlberg Kravis Roberts.

2017

On July 6, 2017, KKR announced it would merge Northern California Mi Pueblo and Ontario-based Cardenas Market.

Eventually, the toy company filed for Chapter 11 bankruptcy in 2017.

2018

In July 2018, it was announced that KKR sold Gallagher Shopping Park, West Midlands in the UK to South Korean investors, Hana for £175 million.

2019

In February 2019, KKR acquired the German media company Tele München Gruppe.

2020

In May 2020, KKR announced that it will be investing $750 million in cosmetics producer Coty, Inc.

Despite the COVID-19 pandemic, the company reported a profit of $16 billion in the Q2 for 2020.

The acquisition was one of the largest purchases of 2020.

2021

In November 2021, KKR disposed of Audiobooks.com to streaming company Storytel for $135 million; later that same month, KKR and Global Infrastructure Partners announced they would acquire CyrusOne for $15 billion.

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Founded
1976
Company Founded
Headquarters
New York, NY
Company Headquarter
Founders
Henry R. Kravis,George Rosenberg Roberts,Jerome Kohlberg Jr.
Company Founders
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KKR & Co. L.P. History FAQs

How Old Is Kkr & Co. L.p.?

KKR & Co. L.P. is 47 years old.

Who Is The Founder Of Kkr & Co. L.p.?

Henry R. Kravis, George Rosenberg Roberts and Jerome Kohlberg Jr. founded KKR & Co. L.P..

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KKR & Co. L.P. may also be known as or be related to KKR & Co, KKR & Co., KKR & Co. Inc., KKR & Co. L.P., KKR & Co., Inc., KKR Singapore Pte Ltd, Kkr and Kohlberg Kravis Roberts & Co.