Early Life
George Roberts was born on September 14, 1943, in Houston, Texas, to a Jewish family. He graduated from Culver Military Academy in 1962 and later attended Claremont McKenna College, earning his Bachelor of Arts in 1966. Roberts furthered his education at the University of California, Hastings College of the Law, graduating in 1969.
Rise to Success
Roberts began his career at Bear Stearns in the late 1960s and early 1970s, where he became a partner at age 29. Alongside Jerome Kohlberg and Henry Kravis (his cousin), Roberts pioneered what they termed "bootstrap" investments. They left Bear Stearns to form Kohlberg Kravis Roberts (KKR) in 1976. KKR became a pioneer in leveraged buyouts, executing major deals such as the 1988 leveraged buyout of RJR Nabisco, a deal that was at the time the largest buyout in history.
Key Business Strategies
KKR, under Roberts' leadership, focused on leveraged buyouts, acquiring underperforming companies, restructuring them, and selling them for profit. The firm expanded into various asset classes, including credit, real estate, and infrastructure. KKR's strategy involved hands-on management and operational improvements to build sustainable companies.
Philanthropy
Roberts is the founder and chairman of the Roberts Enterprise Development Fund (REDF), a nonprofit organization focused on job creation for individuals facing significant barriers to employment. REDF has supported numerous social enterprises, generating substantial revenue and providing employment opportunities. Roberts has also donated significantly to Claremont McKenna College, supporting academic facilities and initiatives.