The New Tycoons: Inside the Trillion Dollar Private Equity Industry That Owns Everything Inside the Trillion Dollar Private Equity Industry That Owns Everything

Inside the Trillion Dollar Industry That Owns Everything

What do Dunkin' Donuts, J. Crew, Toys "R" Us, and Burger King have in common? They are all currently or just recently were owned, operated, and controlled by private equity firms. The New Tycoons: Inside the Trillion Dollar Private Equity Industry That Owns Everything takes the reader behind the scenes of these firms: their famous billionaire founders, the overlapping stories of their creation and evolution, and the outsized ambitions that led a group of clever bankers from small shops operating in a corner of Wall Street into powerhouse titans of capital. This is the story of the money and the men who handle it.

Go inside the private worlds of founders Henry Kravis, Steve Schwarzman, David Bonderman, and more in The New Tycoons, and discover how these men have transformed the industry and built the some of the most powerful and most secretive houses of money in the world.
* With numerous private equity firms going public for the first time, learn how these firms operate, where their money comes from and where it goes, and how every day millions of customers, employees, and retirees play a role in that complex tangle of money
* Author Jason Kelly tells the story of how thirty some years ago a group of colleagues with $120,000 of their own savings founded what would become one of the largest private equity shops in the world, completing the biggest buyout the world has ever seen, and making them all billionaires in the process
* Presents a never-before-seen look inside a secretive and powerful world on the verge of complete transformation as the industry and its leaders gain public profiles, scrutiny, and political positions

Analyzing the founders and the firms at a crucial moment, when they've elevated themselves beyond their already lofty ambitions into the world of public opinion and valuation, New Tycoons looks at one of the most important, yet least examined, trillion-dollar corners of the global economy and what it portends for these new tycoons.

Private Equity firms, once tight-knit partnerships, have broadened their reach substantially, building or acquiring other businesses, from giving mergers advice to managing hedge funds, to underwriting stock and bond offerings. The majority have gone public, offering stock to retail investors, ensuring steady access to more money, and providing a means for which the billionaire founders (most of whom are already in their 60s) to cash out their holdings. This book will take the reader behind the scenes of these firms, understanding their origins and synthesizing the overlapping stories of their creations, evolutions and ambitions into a narrative as they prepare for significant public scrutiny as public companies. The Cast of Characters: Blackstone -- Stephen Scharzman, Tony James: A laid-off Lehman Brothers investment banker teams with his Lehman mentor to create a small advisory boutique. A decade later, he taps a savvy fellow banker who oversees an expansion and public offering, quadrupling its assets under management in a decade and leading the charge to the public markets. Carlyle -- William Conway, Daniel D'Aniello, David Rubenstein: Two young Washington area CEOs team with a lawyer and former Carter administration official to leverage their Washington connections into the first truly global private equity firm, tapping heretofore unknown, but massive, pockets of wealth in the Middle East.  KKR -- Henry Kravis, George Roberts: A pair of Midwestern cousins who want to work for themselves join their Bear Stearns boss (who eventually leaves them for being too aggressive). They establish themselves definitively with the then record-setting RJR Nabisco deal, where they're dubbed Barbarians at the Gate. Almost two decades later, they'll top themselves twice to set new records. TPG -- David Bonderman, James Coulter: A wealthy Texan hires an historical trust lawyer from Washington to fight a freeway scheduled to run through Fort Worth. The lawyer ends up staying on as his top adviser and meets a brash young former consultant. The unlikely pair breaks off from the billionaire to buy Continental Airlines for $80 million, selling it a handful of years later for 20 times their money. They go on to buy the likes of Burger King and J. Crew.

Inside the Trillion Dollar Industry That Owns Everything What do Dunkin' Donuts, J. Crew, Toys "R" Us, and Burger King have in common? They are all currently or just recently were owned, operated, and controlled by private equity firms. The New Tycoons: Inside the Trillion Dollar Private Equity Industry That Owns Everything takes the reader behind the scenes of these firms: their famous billionaire founders, the overlapping stories of their creation and evolution, and the outsized ambitions that led a group of clever bankers from small shops operating in a corner of Wall Street into powerhouse titans of capital. This is the story of the money and the men who handle it. Go inside the private worlds of founders Henry Kravis, Steve Schwarzman, David Bonderman, and more in The New Tycoons, and discover how these men have transformed the industry and built the some of the most powerful and most secretive houses of money in the world. With numerous private equity firms going public for the first time, learn how these firms operate, where their money comes from and where it goes, and how every day millions of customers, employees, and retirees play a role in that complex tangle of money Author Jason Kelly tells the story of how thirty some years ago a group of colleagues with $120,000 of their own savings founded what would become one of the largest private equity shops in the world, completing the biggest buyout the world has ever seen, and making them all billionaires in the process Presents a never-before-seen look inside a secretive and powerful world on the verge of complete transformation as the industry and its leaders gain public profiles, scrutiny, and political positions Analyzing the founders and the firms at a crucial moment, when they've elevated themselves beyond their already lofty ambitions into the world of public opinion and valuation, New Tycoons looks at one of the most important, yet least examined, trillion-dollar corners of the global economy and what it portends for these new tycoons.