Not so Barbarian anymore?

24 mei 2009

In a previous blog we have already mentioned that Anglo-Saxon private equity companies are focusing more on sustainable development and stakeholders. Following this it is interesting to watch some recent statements by one of the top executives in this industry.

In its “View from the Top”-videos the FT interviews Messrs Roberts and Kravis of the American private equity firm KKR. Henry Kravis makes some interesting remarks about big private equity companies not being private anymore. He says: “We large PE firms have a responsibility. We have to work with governments around the world. When you have as many companies as we and the size of the companies that we have, we have an obligation to the employees of those companies, to the local communities, to the environment. (…) And that is something we focus on heavily.(…) Over the last five plus years the stakeholder interest has become a much more important part to KKR.” (See video three, as from minutes 7:25)

I really like to hear such statements from someone who is once being classified as “Barbarian at the Gate”. Something that is so logical to many, sound as news when stated by some. It will be interesting to see how these statements translate into his day-to-day business. We’ll keep watching.

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