Early Life and Education
George Rosenberg Roberts was born into a Jewish family in Houston, Texas, on September 14, 1943. He graduated from Culver Military Academy in 1962 and attended Claremont McKenna College, earning a Bachelor of Arts/Science degree in 1966. He furthered his education at the University of California, Hastings College of the Law, graduating with a Juris Doctor in 1969.
Rise to Success
Roberts began his career at Bear Stearns in the late 1960s, where he became a partner at the age of 29. In 1976, he co-founded Kohlberg Kravis Roberts (KKR) with Henry Kravis and Jerome Kohlberg. KKR quickly became a dominant force in the private equity industry, pioneering leveraged buyouts. Roberts played a key role in landmark transactions, including the RJR Nabisco buyout in 1989, which was chronicled in the book “Barbarians at the Gate”.
Key Business Strategies
Roberts is known for his strategic approach to private equity, including the development of the “Barbarians at the Gate” strategy, which involved using debt to acquire companies and then restructuring or selling off assets to repay the debt. His leadership at KKR has been marked by a focus on long-term value creation, ethical investment practices, and the importance of integrity in business.
Philanthropy
Beyond his financial achievements, Roberts is a dedicated philanthropist. He founded the Roberts Enterprise Development Fund (REDF) in 1997, a nonprofit focused on creating employment opportunities for individuals facing significant barriers to work. REDF has supported numerous social enterprises, helping thousands of people gain employment and achieve self-sufficiency. Roberts has also served as a trustee for Claremont McKenna College and Culver Military Academy and is involved with the San Francisco Symphony, the San Francisco Ballet, and the Fine Arts Museum. In 2012, he donated $50 million to Claremont McKenna College, and in 2022, he donated an additional $140 million to the institution.