Henry Kravis and KKR's LBO of RJR Nabisco

Financial World
The Wall Street 100
By Stephen Taub, David Carey, Richard Coletti, Tom Bancroft
July 11, 1989
Page 36

No. 3 Henry Kravis
At least $110 million

And this doesn't include a dime from the $25 billion RJR deal. Those fees are 1989's take. Instead, thank the liquidation of SCI Holdings [Storer Communications] for much of the 1988 haul. That alone yielded his KKR partnership 20% of the $990 million capital gain. Kravis, 45, collects 19th-century British paintings. Only loss: eight pound in five weeks from RJR negotiations.

Financial World
The Wall Street 100
By Stephen Taub, David Carey, Amy Barrett, Richard J. Coletti and Jackie Gold
July 10, 1990
Page 58

No. 13 Henry Kravis
At least $45 million

Carolyne Roehm's husband. The supreme symbol of 1989's RJR Nabisco LBO, Kravis, 46, plays New York social scene with the same vigor he exhibits buying, leveraging and flipping companies. Father was wiped out by the 1929 crash. Captained golf team at Claremont Men's College in California, where he majored in economics. At Weatherstone, his Connecticut prerevolutionary home, the smell of coffee and baking croissants is piped into guests' bedrooms. The Kravises have made minor adjustments to the estate, including the construction of three lakes, a waterfall and the redesign of a hill to make the drop a bit more gentle. Surprised wife with an emerald necklace under her pillow. Art collection consists of Monets, Renoirs, Sargents. New York's Metropolitan Museum of Art is gearing to pen its Henry R. Kravis wing, as is the city's Mount Sinai Hospital, and he is on the board of both institutions as well as the New York City Ballet. Is a staunch Republican who was national chairman of WNET, New York City's public TV station. In March, Kravis spoke at the Rainbow Room at a luncheon sponsored by the Financial Women's Association and was hissed and booed after apologizing that his wife was not there: "She could have gotten up and talked about what's probably of much more interest - fashion." In June, he cashed out of Beatrice when it was sold to ConAgra. He and the rest of KKR partners should rank in next year's WS 100 list.

Financial World
The Wall Street 100
By Stephen Taub and David Carey with Alison M. Smith
July 21, 1992
Page 40

No. 7 Henry Kravis
Kohlberg Kravis Roberts
At least $45 million

The LBO potentate kept bread on the table again last year, orchestrating a $283 million in vestment in Fleet/Norstar and a $650 million purchase by KKR affiliate K-III of Rupert Murdoch's magazine group. Kravis gathered much of his 1991 income from partially cashing out stakes in Duracell and AutoZone and from unloading KKR's entire holding in ConAgra. Watch for the movie version of Barbarians at the Gate, the best-selling chronicle of KKR's winning the battle to buy RJR Nabisco. The 48-year-old financier reportedly complained to the film's producer about the portrayal of his character by the British actor Jonathan Pryce. Even sharks crave sympathy.

Financial World
The Wall Street 100
By Stephen Taub, Nanette Byrnes, and David Carey
July 6, 1993
Page 41


Source: Financial World, July 6, 1993
Illustration by Jeff Wong

No. 9 Henry Kravis
Kohlberg Kravis Roberts
At least $33 million

Poor Henry, events of late haven't been kind to the 49-year-old leveraged buyout potentate. First George Bush lost, making Kravis's generous $100,000 "soft money" donation to the Republican National State Election Committee an exercise in futility. Kravis's largess in earlier elections also cost him a reported $8,000 fine levied by the Federal Election Commission for violating the legal ceiling on campaign giving. Then came the made-for-HBO version of Barbarians at the Gate, the best-selling account of KKR's $25 billion buyout of RJR Nabisco. Kravis, played by he British stage actor Jonathan Pryce, comes across as an icily humorless corporate predator.

To top it all off, now comes word from the tabloids that Kravis and his second wife, fashion designer Carloyne Roehm, are splitsville. The reported turning point: a couple of nocturnal jaunts to the Manhattan topless bar Stringfellows, where Kravis was said to have shown keener interest in the bare-breasted dancers than in his fully-clothed spouse - who was reportedly accompanying him.

Meanwhile, the ire of KKR's investors mounts over the recent nosedive in RJR's share price. Kravis, whose personal wealth is in the half-billion dollar range, doesn't seem much to be letting such headaches get him down. He just bought his sixth home - a $10 million beachfront bungalow in the Dominican Republic's Casa del Campo development designed by Oscar de la Renta.

Financial World
The Wall Street 100
Call it the year of the hedge funds. For this elite band, it was the best year ever.
By Stephen Taub and David Carey with Andrew Osterland and David Yee
July 5, 1994
Page 36

No. 11 Henry Kravis
Kohlberg Kravis Roberts
at least $56 million

The next time hes in Palm Springs, the 50-year-old LBO maven wont have to search far to get in a round of golf. Henry Kravis, who boasts a nine handicap, and his KKR partners bought stakes in two golf clubs there last year, PGA West and the La Quinta Gold and Tennis Club, for $275 million. The firm also picked up two top-flight clubs in Miami last January, the Doral Resort & County Club and Doral Saturnia International Spa Resort. Nor will Kravis lack pocket change to place bets with golfing partners, having harvested at least $56 million last year, mostly from unloading shares of Autozone, Duracell International and Fred Meyer, and from selling Marley Co. to United Dominion.

Earlier this year, before he got married, Kravis introduced his third wife, Marie Josee Drouin, to 300 friends at a party at the Metropolitan Club in February. He had the clubs posh Garden of Babylon dining room redecorated for the occasion with garlands and a huge flowered trellis. The New York Post says he spend $100,000 for flowers alone.

Financial World
The Wall Street 100
Compensation was way down in 1994 for Wall Streets highest earners
By Stephen Taub, David Carey, and Joseph Epstein
July 4, 1995
Page 57

No. 65 Henry Kravis
Kohlberg Kravis Roberts
At least $8 million

Oh, how the mighty have fallen . . . at least for a year. In 1994, Kravis, who usually ranks among the top-10 Wall Street earners, saw his income plunge nearly 86%. Thats because KKR sold not a single position it held in any company last year, aside from swapping its RJR Nabisco holding for a controlling stake in Borden, which generated no gain.

Is Kravis starting to watch his pennies? A recent story in Skiing magazine on how to avoid paying full price for lift tickets noted that Kravis, who earned more than $89 million in the two prior years, has been known to stop in Denver to pick up discount lift tickets while on the way to his Vail home aboard his private yet. There was no confirmation, however, of this report.

Kravis, 51, donated $2 million in January to endow a curatorship for the Department of European Sculpture and Decorative Arts at New York Citys Metropolitan Museum of Art, where the Henry R. Kravis Wing was established after a $10 million contribution in 1987. He sits on the museums board of trustees and is national co-chairman of the Fund for the Metropolitan Steering Committee. Kravis is also a big patron of public television, in particular New Yorks Channel 13, and helped raise more than $1 million for the station at a charity even hosted by designer Oscar de la Renta and his wife, Annette, last June.

A native of Oklahoma, Kravis presently resides in a 26-room Park Avenue apartment that includes a ballroom and terrace. Hes a major supporter of Republican presidential hopeful Robert Dole.

Financial World
The Wall Street 100
By David Carey and Stephen Taub
October 21, 1996
Page 59

No. 7 Henry Kravis
Kohlberg Kravis Roberts
At least $76 million


Source: Financial World, October 21, 1996
Photograph by Lisa Quinones/Black Star

Copyright (c) Financial World



All International Welcome Messages: 1, 2, 3, 4, 5, 6, 7 & 8