During the 2025 Lewis H. Durland Memorial Lecture, Henry R. Kravis reflected on his 1976 journey in co-founding KKR & Co. He emphasized the importance of entrepreneurial grit and culture-centric leadership in business transformation. From starting with limited resources and no clients, Kravis and his partners, George Roberts and Jerry Kohlberg, innovated financing methods, culminating in KKR's $650 billion in assets today. Their experiences highlight the pivotal shifts in business philosophy that characterized the private equity industry.
Kravis emphasized the need for entrepreneurial grit, stating it pushes one to 'get through the wall or over it,' showcasing resilience in uncertain business environments.
Reflecting on KKR's creation in 1976, Kravis revealed the struggle of starting with no clients or capital, ultimately leading to their now industry-standard carried interest model.
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