Jerome Kohlberg, Jr.

About Jerome Kohlberg, Jr.

Birth Day: July 10, 1925
Birth Place: United States
Residence: Mount Kisco, New York
Alma mater: Swarthmore College Harvard Business School Columbia Law School
Known for: Co-founder of Kohlberg Kravis Roberts
Spouse(s): Nancy Kohlberg
Children: 4

Jerome Kohlberg, Jr.

Jerome Kohlberg, Jr. was born on July 10, 1925 in United States. Harvard M.B.A. met Henry Kravis and George Roberts (see both) at Bear Stearns. Group left to create leveraged buyout firm KKR 1976. Used debt to buy large undervalued companies; shored up balance sheets, flipped for big profit. Left in 1987; still owns 1% of KKR. Retired 1994; handed reins of Kohlberg & Co. to son James.

Does Jerome Kohlberg, Jr. Dead or Alive?

As per our current Database, Jerome Kohlberg, Jr. has been died on July 30, 2015(2015-07-30) (aged 90)\nMartha's Vineyard, Massachusetts.

🎂 Jerome Kohlberg, Jr. - Age, Bio, Faces and Birthday

When Jerome Kohlberg, Jr. die, Jerome Kohlberg, Jr. was 90 years old.

🌙 Zodiac

Jerome Kohlberg, Jr.’s zodiac sign is Leo. According to astrologers, people born under the sign of Leo are natural born leaders. They are dramatic, creative, self-confident, dominant and extremely difficult to resist, able to achieve anything they want to in any area of life they commit to. There is a specific strength to a Leo and their "king of the jungle" status. Leo often has many friends for they are generous and loyal. Self-confident and attractive, this is a Sun sign capable of uniting different groups of people and leading them as one towards a shared cause, and their healthy sense of humor makes collaboration with other people even easier.

🌙 Chinese Zodiac Signs

Jerome Kohlberg, Jr. was born in the Year of the Ox. Another of the powerful Chinese Zodiac signs, the Ox is steadfast, solid, a goal-oriented leader, detail-oriented, hard-working, stubborn, serious and introverted but can feel lonely and insecure. Takes comfort in friends and family and is a reliable, protective and strong companion. Compatible with Snake or Rooster.

Biography/Timeline

1955

Kohlberg joined Bear Stearns in 1955 where he would go on to manage the corporate Finance department. Working for Bear Stearns in the late 1960s and early 1970s, Kohlberg, alongside Bear Stearns executives began advising a series of what they described as "bootstrap" Investments. Their acquisition of Orkin Exterminating Company in 1964 is considered to have been 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. Kravis and his associates created a series of limited partnerships to acquire these various corporations, ones they judged were performing well below their sales and profit potential or where there were untapped financial assets that could be monetized. In most cases, Kohlberg Kravis Roberts & Co put up ten percent of the acquisition price from its own funds and borrowed the rest from Investors by issuing high-yield bonds.

1976

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 Kohlberg Kravis Roberts in that year. Most notably, Bear Stearns executive Cy Lewis had rejected repeated proposals to form a dedicated investment fund within Bear Stearns and Lewis took exception to the amount of time spent on outside activities. Early Investors in KKR included the Hillman Family Group of Henry Hillman and the Hillman Company. By 1978, with the revision of the ERISA regulations, the nascent KKR was successful in raising its first institutional fund with approximately $30 million of investor commitments.

1986

Kohlberg was raised in a Jewish family graduating from New Rochelle High School in New Rochelle, New York. Kohlberg served in the United States Navy during World War II and went on to college and graduate school on the GI Bill. He earned an undergraduate degree from Swarthmore College. He later received MBA degree from Harvard Business School and Bachelor of Laws in Columbia Law School. In 1986, he founded the Philip Evans Scholarship Foundation at Swarthmore.

1987

In 1987 Kohlberg resigned from KKR over differences in strategy and Henry Kravis and George Roberts assumed full leadership of the firm. Kohlberg did not favor the large buyouts (which would likely have included the 1989 takeover of RJR Nabisco) or hostile takeovers. Instead, Kohlberg chose to return to his roots, acquiring smaller, middle-market companies and, in 1987, founded a new private equity firm Kohlberg & Company. As of the end of 2007 Kohlberg & Company had raised six private equity funds since its inception, with approximately $3.7 billion of investor commitments. Additionally, Kohlberg also operated a series of debt investment funds under the banner of Katonah Debt Advisors, as well as a publicly traded investment vehicle Kohlberg Capital (NASDAQ:KCAP). Kohlberg retired from Kohlberg & Company in 1994.

2008

He was listed on the 2008 Forbes List of billionaires as the 785th richest person in the world with an estimated net worth of $1.5 billion.

2015

Kohlberg died of cancer on July 30, 2015 on Martha’s Vineyard in Massachusetts, twenty days after his 90th birthday.

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