A vivid account of the deals, tactics and personalities associated with Kohlberg Kravis Roberts since the private equity firm was founded in 1976. This book shows KKR's financial alchemy in action, as the firm combines borrowed money and borrowed management to create many billions of dollars of profits from owning companies such as Safeway, Duracell and Beatrice -- while also struggling to salvage its giant RJR Nabisco investment. The author, a former Wall Street Journal reporter, draws on extensive access to KKR founders Henry Kravis and George Roberts, as well as the perspectives of lenders, chief executives and rank-and-file workers associated with the buyout business. The Washington Post called this "the definitive book about the firm and its deals." The New York Times termed it "refreshing and important." Publishers Weekly hailed it as "beautifully organized and written in immediate and lively prose." This e-book edition includes substantial updates from 2013, incorporated into material first published in 1992.
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For the financial Luddites, Merchants of Debt has such a scope and rings of such meticulously sourced journalism, it raises us to the level of people who can finally follow the plots as they thicken and double back on themselves. We thank Anders for letting us stand on the chair and look through the transom of eras of our history.