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 In the very first issue of The Daily Deal newspaper, we launched The Private Equity 50, a ranking of the top private equity players as determined by our own senior writer David Carey. (See complete list on The Deal Pipeline.)The Private Equity 50 was billed as "An earnings scorecard of the buyout and private investment world that will run in the paper each year." After our premier issue, the list did indeed run again -- six days later when we fretted no one had seen it the first time. As for our ambition to repeat the exercise annually ... well, let's just say we had the best of intentions (which is better than saying we just plain forgot). Kirk Kerkorian topped that first list. Carey tipped his hat to Kerkorian because he "harvested at least $650 million while unloading a fraction of his stake in Chrysler Corp. during the spring and summer of 1998, before the company merged with Daimler-Benz."
Three Kohlberg Kravis Roberts & Co. principals (Henry Kravis,
George Robert and Robert MacDonell) took up the bulk of the top five
with combined profits of $700 million, followed by Thomas Hicks of
Hicks, Muse, Tate & Furst Inc. with earnings of at least $155
million.
Many of the folks on the PE 50 list have since retired or closed up shop. Other folks -- Sam Zell (at least $70 million in earnings), Ron Burkle (at least $85 million in earnings), Leon Black (at least $30 million in earnings) -- continue to press on, trying to redefine private equity in this brave new world. Here's hoping the experts are right and PE will make a comeback in 2009. If so, we promise to publish that long overdue sequel to the PE top 50. - Tom Groppe On top of the world: the private equity 50 of 1999
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