20240919 Henry Kravis 5

The New York Stock Exchange in 1972. Jerry, George and I worked together at Bear Sterns, a trading firm with a trading mentality focused only on short-term profits. © AP

At Bear Stearns: Henry Kravis (5)

Awestruck and inspired by an innovative method of buying companies

When I graduated from Columbia Business School in 1969, George (Roberts, KKR co-founder) was already working for Bear Stearns. He was in the investment bank's corporate finance department, which was led by Jerry Kohlberg, who was co-head of the section.

After he had his first child, George wanted to be transferred to San Francisco, which he knew well from his law school years. George recommended me to Jerry as his successor in the department. But it was not the first time that I was offered a job at Bear Stearns. Previously, I declined Jerry's offer of a job and joined a venture capital company, but I quit the venture capital company after only a short time. "Are you sure you're coming this time?" Jerry said to confirm my intention.

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