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{{Short description|American private equity firm}}
{{Infobox_Company |
{{Infobox company
company_logo = [[File:Kelso-logo.png|150px|Kelso & Company]] |
company_name = Kelso & Company |
| logo = Kelso-logo.png
company_type = [[Private Company|Private Ownership]] |
| name = Kelso & Company
| type = [[Privately held company|Private]]
foundation = 1971 |
| foundation = {{start date and age|1971}}
location = [[New York City]], [[New York]], [[United States]] |
| location = [[New York City]], [[New York (state)|New York]], [[United States]]
industry = [[Private Equity]] |
products = [[Private equity fund]]s, [[Leveraged buyout]]s, [[Leveraged recapitalization|Recapitalizations]], [[Growth capital]] |
| industry = [[Private Equity]]
| products = [[Private equity fund]]s, [[Leveraged buyout]]s, [[Leveraged recapitalization|Recapitalizations]], [[Growth capital]]
| key_people = [[Phil Berney]] (co-[[Chief executive officer|CEO]])<br/>[[Frank Loverro]] (co-CEO)<br/>[[Nick Nickell|Frank Nickell]] ([[chairman]])
assets = $10.1 billion |
homepage = [http://www.kelso.com/ www.kelso.com] |
| aum = $11.2 billion
| homepage = [http://www.kelso.com/ www.kelso.com]
}}
}}


'''Kelso & Company''' is a [[private equity]] investment firm focusing on [[leveraged buyout]]s, [[leveraged recapitalization|recapitalizations]] and [[growth capital]] transactions. Kelso invests in a variety of sectors, including communication, manufacturing and restaurants.
'''Kelso & Company''' is an American [[private equity]] firm focusing on [[leveraged buyout]]s, [[leveraged recapitalization|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]].
Kelso is based in [[New York City]] and was founded in 1971. Since 1980, the firm has raised approximately $10.1 billion of investor commitments to its [[private equity fund]]s and was among the [[list of private equity firms|50 largest private equity firms]] globally. Since its inception, the firm has made investments in over 90 companies representing more tha $31 billion of aggregate purchase price.

⚫
Kelso also provides [[mezzanine capital]] through a joint venture with [[BlackRock]], an asset management firm. 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==
==History==
Originally founded in 1971 as Kelso Bangert & Company, the firm acted as both an advisor and [[merchant bank]], both making investments and advising in [[mergers and acquisitions]]. Kelso was founded [[Louis O. Kelso]], a lawyer and economist who is given credit for developing the concept for [[Employee Stock Ownership Plan]]s, also known as [[ESOP]]s, in 1956. Kelso, alongside a sister company Louis O. Kelso Inc., focused initially on M&A activity involving Employee Stock Ownership Plans.<ref name=obituary>"[http://query.nytimes.com/gst/fullpage.html?res=9D0CE1D71339F932A15751C0A967958260 Louis O. Kelso, Who Advocated Worker-Capitalism, Is Dead at 77]." [[New York Times]], February 21, 1991.</ref>
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 plan]]s, in 1956. Kelso, alongside a sister company Louis O. Kelso Inc., focused initially on M&A activity involving Employee Stock Ownership Plans.<ref name=obituary>"[https://query.nytimes.com/gst/fullpage.html?res=9D0CE1D71339F932A15751C0A967958260 Louis O. Kelso, Who Advocated Worker-Capitalism, Is Dead at 77]." [[New York Times]], February 21, 1991.</ref>


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.<ref name=obituary /><ref>"[http://query.nytimes.com/gst/fullpage.html?res=940DEFDD1239F93BA25750C0A96E948260 Standard Endorses Kelso Bid]." [[New York Times]], March 18, 1988.</ref> Today the firm is headed by Frank T. Nickell who joined the firm in 1977.
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.<ref name=obituary /><ref>"[https://query.nytimes.com/gst/fullpage.html?res=940DEFDD1239F93BA25750C0A96E948260 Standard Endorses Kelso Bid]." [[New York Times]], March 18, 1988.</ref>


In June 2016, Kelso closed its latest fund at $2.6 billion.<ref>{{cite web|url=https://www.altassets.net/private-equity-news/by-news-type/fund-news/kelso-co-closes-fund-ix-above-target-at-2-6bn.html|title=Kelso & Co closed Fund IX above target at $2.6bn - AltAssets Private Equity News|first=Vanya|last=Damyanova|website=www.altassets.net}}</ref>


== Investments ==
Kelso & Company has invested in energy, materials, retailing, industrial and consumer products, telecommunication services, financial services, and healthcare sectors.<ref name=":0" /> 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.<ref name=":0">{{Cite web|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=21339|title=Kelso & Company: Private Company Information - Businessweek|website=www.bloomberg.com|access-date=2016-06-14|archive-date=2016-06-17|archive-url=https://web.archive.org/web/20160617072922/http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=21339|url-status=live}}</ref>


==References==
==References==

{{reflist|2}}
{{reflist|2}}


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{{Private equity firms}}
{{Private equity firms}}

⚫
[[Category:Private equity firms]]
{{DEFAULTSORT:Kelso and Company}}
⚫
[[Category:Private equity firms of the United States]]
[[Category:Companies based in New York City]]
[[Category:Companies based in New York City]]
[[Category:Companies established in 1971]]
[[Category:American companies established in 1971]]
[[Category:Former investment banks]]
[[Category:Financial services companies established in 1971]]
[[Category:Former investment banks of the United States]]
[[Category:Companies listed on the Nasdaq]]
[[Category:1971 establishments in New York City]]

Latest revision as of 14:46, 24 December 2024

Kelso & Company
Company typePrivate
IndustryPrivate Equity
Founded1971; 54 years ago (1971)
HeadquartersNew York City, New York, United States
Key people
Phil Berney (co-CEO)
Frank Loverro (co-CEO)
Frank Nickell (chairman)
ProductsPrivate equity funds, Leveraged buyouts, Recapitalizations, Growth capital
AUM$11.2 billion
Websitewww.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]
  1. ^ a b "Louis O. Kelso, Who Advocated Worker-Capitalism, Is Dead at 77." New York Times, February 21, 1991.
  2. ^ "Standard Endorses Kelso Bid." New York Times, March 18, 1988.
  3. ^ Damyanova, Vanya. "Kelso & Co closed Fund IX above target at $2.6bn - AltAssets Private Equity News". www.altassets.net.
  4. ^ a b "Kelso & Company: Private Company Information - Businessweek". www.bloomberg.com. Archived from the original on 2016-06-17. Retrieved 2016-06-14.
[edit]
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