George R. Roberts
George Rosenberg Roberts University of California, Hastings College of the Law (JD) | |
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Occupation(s) | Co-founder, Kohlberg Kravis Roberts |
Spouses |
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Children | 3 |
George Rosenberg Roberts (born 1943) is an American financier. He is one of the three original partners of Kohlberg Kravis Roberts (KKR), which he co-founded alongside Jerome Kohlberg and first cousin Henry Kravis in 1976.
Early life
George Roberts was born into a Jewish
Career
Roberts worked for Bear Stearns in the late 1960s and early 1970s becoming a partner at the age of 29.[2] While at Bear Stearns, Roberts, alongside Kohlberg and Kravis, began a series of what they described as "bootstrap" investments. Their acquisition of Orkin Exterminating Company in 1964 is among the first significant leveraged buyout transactions. In the following years the three Bear Stearns bankers would complete a series of buyouts including Stern Metals (1965), Incom (a division of Rockwood International, 1971), Cobblers Industries (1971), and Boren Clay (1973) as well as Thompson Wire, Eagle Motors and Barrows through their investment in Stern Metals. Although they had a number of highly successful investments, the $27 million investment in Cobblers ended in bankruptcy.[4]
By 1976, tensions had built up between Bear Stearns and the trio of Kohlberg, Kravis and Roberts leading to their departure and the formation of
He has an estimated net worth of $5.9 billion as of 2018[update].[8]
Personal life
In 1968, he married Leanne Bovet, daughter of Eric B. Bovet and Dorothy Champion of San Mateo, California.[9][10] Bovet's father was a member of the Swiss Borel family of San Mateo being the son of Swiss immigrant Louis Bovet and Grace Borel (the daughter of the family patriarch, Swiss immigrant Antoine Borel, a banker in San Mateo, California).[11][12] She died in 2003.[13]
On May 22, 2010, he married Goldman Sachs partner Linnea Conrad.[14]
Philanthropic and public positions
Roberts is the founder and chairman of the boards of directors of non-profit organizations such as the Roberts Enterprise Development Fund (REDF), which focuses on job creation.
In 2012, he donated $50 million to Claremont McKenna College.[17] He again donated $140 million to CMC in 2022.[18]
Awards and honors
- Golden Plate Award of the American Academy of Achievement, 1988[19]
References
- ^ "KKR Company Profile & Executives - KKR & Co. Inc. - Wall Street Journal".
- ^ a b "The world's 50 Richest Jews: 41-50". The Jerusalem Post | JPost.com. Retrieved 2022-05-07.
- ^ "Roberts winning 'Man of the Year' award". Archived from the original on May 9, 2006. Retrieved July 18, 2006.
- ^ "Answers.com profile". Answers. Retrieved September 18, 2014.[unreliable source?]
- ^ In 1976, Kravis was forced to serve as interim CEO of a failing direct mail company Advo.
- ^ "Refers to Henry Hillman and the Hillman Company". Answers. Retrieved 2022-05-07.
- ISBN 978-1-119-97388-1.
- ^ "George Roberts". Forbes. Retrieved 2020-02-24.
- ^ "Obituaries - July/August 2010". Stanford Magazine. July 2010. Retrieved 2022-05-07.
- Berkeley Daily Gazette. July 2, 1941. Retrieved 2022-05-07 – via Google News Archive Search.
- ^ The Borel Traditions Live On, borel.com; accessed September 18, 2014.
- San Mateo Times. Dec 29, 1958. p. 40. Retrieved 2022-05-07 – via NewspaperArchive.com.
- ISSN 0362-4331. Retrieved 2022-05-07.
- nytimes.com. Retrieved 2022-05-07.
- ^ "REDF - An investment that works". REDF. Retrieved 22 April 2018.
- ^ "George R Roberts, KKR & Co LP: Profile and Biography". Bloomberg.com. Retrieved 2022-05-07.
- ^ Dolan, Kerry A. "Billionaire KKR Co-Founder George Roberts Gives $50 Million To Claremont McKenna College". Forbes. Retrieved 2022-05-07.
- ^ Silsby, Gilien (April 22, 2022). "CMC announces the Roberts Campus". Claremont McKenna College (Press release). Retrieved 7 May 2022.
- American Academy of Achievement.