Kelso & Company
 | |
| Company type | Private |
|---|---|
| Industry | Private Equity |
| Founded | 1971 |
| Headquarters | New York City, New York, United States |
Key people | Phil Berney (co-CEO) Frank Loverro (co-CEO) Frank Nickell (chairman) |
| Products | Private equity funds, Leveraged buyouts, Recapitalizations, Growth capital |
| AUM | $11.2 billion |
| Website | www.kelso.com |
Kelso & Company is an American private equity firm focusing on leveraged buyouts, recapitalizations and growth capital transactions. Kelso invests in a variety of sectors, including communication, manufacturing and restaurants. Kelso is based in New York City.
Kelso also provides mezzanine capital through a joint venture with asset management firm BlackRock. Their joint venture, BlackRock Kelso Capital Corp. (Nasdaq: BKCC), is organized as a type of publicly traded private equity company known as a Business Development Company.
History
[edit]Founded in 1971 as Kelso Bangert & Company, the firm acted as both an advisor and merchant bank, both making investments and advising on mergers and acquisitions. Kelso was founded by Louis O. Kelso, a lawyer and economist who is given credit for developing the concept for employee stock ownership plans, in 1956. Kelso, alongside a sister company Louis O. Kelso Inc., focused initially on M&A activity involving Employee Stock Ownership Plans.[1]
Kelso raised its first private equity fund and has had a dedicated private equity investment platform since 1980. Louis O. Kelso, who died in 1991, transitioned management of the firm to Joseph Schuchert to focus on writing and lecturing.[1][2]
In June 2016, Kelso closed its latest fund at $2.6 billion.[3]
Investments
[edit]Kelso & Company has invested in energy, materials, retailing, industrial and consumer products, telecommunication services, financial services, and healthcare sectors.[4] The company typically invests in North America with a focus on the United States. It targets investing between $50 million and $600 million in firms that have a value of between $250 million and $2.5 billion.[4]
References
[edit]- ^ a b "Louis O. Kelso, Who Advocated Worker-Capitalism, Is Dead at 77." New York Times, February 21, 1991.
- ^ "Standard Endorses Kelso Bid." New York Times, March 18, 1988.
- ^ Damyanova, Vanya. "Kelso & Co closed Fund IX above target at $2.6bn - AltAssets Private Equity News". www.altassets.net.
- ^ a b "Kelso & Company: Private Company Information - Businessweek". www.bloomberg.com. Retrieved 2016-06-14.
External links
[edit]- Kelso & Company (company website)
- Blackrock-Kelso Capital Corp. (company website)