A Smiling Sayonara from Private Equity’s Pioneers

The billionaire founders of KKR, America’s first nationally celebrated “private equity” giant, have just announced they’re stepping down as the company’s co-CEOs. Henry Kravis, now 77, and George Roberts, 78, helped found KKR in 1976. They opened up shop with $120,000 in capital to invest. Their KKR portfolio currently holds assets valued not all that More

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