The Race has started for European PE firms to join the $100bn Club!

By Ascanio Rossini The race to become Europe’s first $100bn private-equity firm is accelerating as the recent fundraising boom shows. Europe’s largest investment firms, including Ardian, Partners Group and CVC Capital Partners, are closing in on $100bn in AuM after raising some of their largest-ever funds in recent years and launching new investment strategies inContinue reading “The Race has started for European PE firms to join the $100bn Club!”

ALL TIME CLASSIC! KKR’s first leveraged buyout battle ($25bn). The fall of RJR Nabisco. Yes! Barbarians are really at the gate.

Authors: Qitong Sun and Massimiliano Marchisio Date 30 November 1988 Type of transaction Leveraged Buyout Valuation 7.5-8.0x FY 1988 EBITDA of c. $3.1bn Bidder KKR Target company (sector) Financials RJR Nabisco (Tobacco & Food) FY1988 Rev./EBITDA $16.9bn/$3.1bn (margin c.18.3%) Rationale RJR Nabisco’s operations exhibited moderate and consistent growth, required little capital investment and carried lowContinue reading “ALL TIME CLASSIC! KKR’s first leveraged buyout battle ($25bn). The fall of RJR Nabisco. Yes! Barbarians are really at the gate.”