he private equity industry presents something of a challenge
for would-be responsible investors.
It is, after all, a sector most-readily associated
with a derogatory public image earned during excesses of
so-called corporate raiders in the 1980s and 1990s. And yet
these days the reality couldn’t be further removed
from the caricature.
Private equity investment today involves a wide
spectrum of strategies that are an important component of a
dynamic and efficient capital market, and utilises business
models that enhance the efficiency of companies and the economy
as a whole.
Leading the charge in rehabilitating the
industry’s image is Kohlberg Kravis Roberts (KKR)
- the private equity raider that inspired Barbarians at the
Gate, a chronicle of the wild 1988 takeover of America's RJR
Nabisco. Nearly a quarter of a century on, KKR has an
altogether cuddlier image.
It is now seen as the standard bearer on environmental,