kkr What’s in a name?

Henry Kravis and George Roberts charge investors huge fees for handling their money. Shareholders in the public fund Kohlberg Kravis Roberts launched in Amsterdam last May pay them an annual management fee of 1.15% on its $5bn war chest, plus 20% of any profits. So how can KKR justify making the $700m investment in Sun Microsystems it announced on Tuesday? KKR is simply taking a minority stake in a public company. Sun has a big cash pile, rather than debt. And KKR doesn’t even get control. It o...