Change Agents
Change Agents
Academy of Achievement
George Roberts
16 minutes Posted Jul 2, 1988 at 1:00 pm.
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Show notes
A pioneer of the private equity industry, George
Roberts, co-founded Kohlberg Kravis Roberts and Co. For over 30
years, George Roberts, along with KKR co-founder Henry Kravis,
has led the firm in its growth into a leading global alternative
asset manager. After graduating from the University of California
Hastings Law School in 1969, Roberts joined Bear Stearns and
Company. By the age of 29, he was a partner in the firm. Along
with Henry Kravis and Jerome Kohlberg, he pioneered the leveraged
buyout, borrowing money to buy a controlling interest in a given
company, a practice that revolutionized the financing of American
industry. The trio left Bear Stearns to found their own firm,
KKR, in 1976. Since its founding, KKR has undertaken the biggest
corporate acquisitions in history. The list of companies Roberts'
firm has controlled over the years constitutes a virtual
roll-call of great American brands: Safeway, Beatrice, Borden,
Playtex, Samsonite, Culligan, Texaco and Nabisco. KKR completed
the first leveraged buyout in excess of 1 billion dollars, the
first friendly tender offer in the buyout of a public company,
and the largest buyouts ever completed in the U.S., the
Netherlands, Denmark, India, Australia, Turkey, Singapore, and
France. In addition to his historic business achievements, George
Roberts is founder and Chairman of the board of directors of
REDF, a San Francisco non-profit organization. REDF uses the
practices of venture philanthropy to create job opportunities
through the support of social enterprises that help people gain
the skills to help themselves.