KKR greens portfolio companies

Alternative asset manager KKR greens portfolio companies in joint initiative with Environmental Defense Fund


10th June 2009

Alternative asset manager Kohlberg Kravis Roberts & Co. has announced specific environmental efforts for the five newest companies participating in its Green Portfolio Project, KKR’s partnership with the Environmental Defense Fund (EDF): Accellent, Biomet, Dollar General Corporation, SunGard Data Systems and HCA. Each of the companies have evaluated their impacts on environmental performance, identified opportunities for improvement and will implement these changes to achieve their goals for environmental sustainability, according to the firm.

Once implemented, these changes will help managers to cost-effectively improve efficiency and reduce waste, while addressing the environmental impacts of their business, KKR said.

‘The first priority of our limited partners is to maximise investment returns, but must also recognise the importance of improving environmental performance. Our work with EDF and our portfolio companies is proving that environmental management can help create real value and drive the returns that help fund retirement pensions and other important needs,’ said Ken Mehlman of KKR.

As part of their first of its kind partnership between a private equity firm and an environmental organization, KKR and EDF have worked since May 2008 to develop and test a set of analytic tools and metrics to help companies improve in several key environmental performance areas, including greenhouse gas emissions, waste, water, forest resources and priority chemicals.

The pilot phase of the project yielded successful results for U.S. Foodservice , PRIMEDIA and Sealy Corporation, which together already saved $16.4m and prevented more than 25,000 metric tons of greenhouse gas emissions in 2008.

Throughout 2009, KKR and EDF will continue to work together to extend this programme across KKR’s U.S. portfolio, the companies said.

KKR has offices in New York, Menlo Park, San Francisco, Houston, Washington D.C., London, Paris, Hong Kong, Beijing, Tokyo, Mumbai and Sydney.

Ken Mehlman, Head of Global Public Affairs at KKR

Ken Mehlman joined KKR in 2008 and is Head of Global Public Affairs. Prior to joining KKR, Ken Mehlman was a partner at Akin Gump Strauss Hauer & Feld with a bi-partisan practice in legislative and regulatory counseling. He previously served in high level positions on Capitol Hill and the White House, including as Chairman of the Republican National Committee and Campaign Manager of President Bush’s successful re-election campaign. Mr. Mehlman graduated with a B.A. from Franklin & Marshall College and holds a J.D. from Harvard Law School.

SOURCE: Alternative asset manager KKR greens portfolio companies in joint initiative with Environmental Defense Fund

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