Henry Kravis, the Co-Founder of Kohlberg Kravis Roberts (KKR), has finally shown his interest in investing in cryptocurrencies. He is now ready to follow the steps of a few other finance hotshots that are already involved in the world of crypto. The list includes Peter Thiel, Louis Bacon, and Alan Howard.
Joining the Investor Legend Ranks
The previous year, CCN presented a report about Howard, the Co-Founder of Brevan Howard Asset Management. They revealed that he hired an employee who was assigned the task of managing substantial investments in the crypto world for this well-known billionaire.
At present, the firm has not traded or purchased any cryptocurrency from the market. However, the partners of Brevan Howard have already invested in several crypto assets. Now, this famous asset management company is also planning to enter into the ICO market while focusing on the funding of blockchain startups.
Also, Peter Thiel is the Co-Founder of the widely popular online money transfer platform PayPal. Mr. Thiel had invested in many big companies like Spotify and Facebook at earlier times. And the recent update is that he is highly involved in the Bitcoin industry as well.
Reports reveal that along with Louis Bacon, the founder of Moore Capital Management and Howard; Thiel has also invested in Block.one. This organization is working hard for the management of EOS and has recently generated substantial profits for the early investors.
ParaFi’s Crypto Fund Capturing Attention of High-Profile Investors:
The former KKR Employee, Ben Forman, has now gained massive popularity as a chief investment officer and founder of ParaFi Capital. Ben Forman recently revealed to Bloomberg that Kravis has also made a substantial investment in the flagship crypto fund of his San-Francisco based company.
The founder of ParaFi also said that his company is currently managing around $25 million; however, the company is working with a target to reach $100 million by the first quarter of 2020.
Forman worked with KKR for almost three years, and he helped the company to handle debts and credit business investments. At the same time, he led the in-house crypto research team and in-house blockchain for the company.
In an interview, he revealed that he had a plan to pursue blockchain investments within KKR, but the company was not able to provide the desired platform to do so. Hence, instead of moving ahead with Crypto at KKR; he decided to build KKR for Crypto.
Within the past few years, ParaFi has captured the attention of a wide range of investors towards their crypto fund. Note that this fund includes the Dragonfly Capital Partners and Bain Capital Ventures. Other than this, two companies have also invested in the management firm of ParaFi.
Know the essential facts about Henry Kravis:
Kravis has worked on numerous profiles within New York for several years. Later, along with his cousin, George R. Roberts, he joined Bear Stearns, the former global investment bank. After joining this platform, they met with Jerome Kohlberg, who was working as a corporate finance manager at this big organization.
After working together for a few years, these three professionals decided to build KKT in the year 1976. If we look at the stats of the year 2017, the firm had a net income of $800 million at the time. As per the stats obtained from the year 2007, KKR got massive popularity for their ability to manage $25 billion buyouts for RJR Nabisco as well as for taking up TXU private, a leading utility firm along with two more organizations with the $45 billion buyouts.
If we look at the Forbes List, it shows that Kravis has real-time worth of around $5.7 billion, and this business professional ranks as the 317th richest person in the world.