Dow Jones – Distinctions between hedge funds and private equity are becoming increasingly blurred as alternatives managers look to do more long-term buyout deals and private equity firms seek to emulate investment funds.
Eight years ago, Henry Kravis, co-founder of US buyout house Kohlberg Kravis Roberts, was scathing about hedge funds. After beating them to a $3.7bn energy deal he said: “Any fool can buy a company but to deliver improvements you have to act like an industrialist.”
