Kohlberg Kravis Roberts's approach to leveraged buyouts was animportant aspect of the corporate restructuring and governancereforms in the American economy from the mid-1970s through 1990.During that period, KKR crafted a series of progressively moreelaborate deals tailored to specific companies and marketconditions. Through its creative debt financing and itsrelationships with an evolving cast of investors, companies, andmanagers, KKR drove the scale and scope of the buyout phenomenon tounprecedented highs. This book examines KKR's record in detail.Based upon interviews with partners of the firm and onunprecedented access to KKR's records, George Baker and GeorgeSmith have written a balanced and enlightening account of how KKRhas approached LBOs. This book focuses on KKR's founding,evolution, and innovations as ways to understand issues in modernAmerican business. In examining KKR as a unique form of enterprise- one that subscribes to a set of alternative perspectives onbusiness and value creation - the book bridges the gap betweenpublic perception and academic knowledge of the leveraged buyout, acrucial phenomenon of modern economic life.
【目录】
Introduction
1. Context and overview
2. Recasting the role of debt: creative leverage and buyoutfinancing
3. LBO governance and value creation
4. When risk becomes real: managing buyouts in distress
5. KKR as an institutional form: structure, function andcharacter
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