Tuesday, November 29, 2011

K.K.R.’s Frackin’ Billionaires Club

Dealbook reports that Which of the following individuals is an oil-and-gas magnate who has made billions of dollars through a deal with Kohlberg Kravis Roberts in the last three years?

(A) Jeffrey Hildebrand
(B) Terry Pegula
(C) Stacy Schusterman
(D) All of the above
If you answered (D), you are correct!

The private equity firm K.K.R. has had extraordinary success investing in so-called shale plays. Starting in 2009, the firm has placed three consecutive bets on the business of extracting natural gas from shale rock formations through hydraulic fracturing technology, or fracking.

It had previously sold two of those investments, flipping them to large energy companies and making billions of dollars for the firm and its investors. It further….

Read more at http://dealbook.nytimes.com/2011/11/25/k-k-r-s-energy-billionaires-club/

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