Kelso & Company

Office address: 299 Park Avenue 30th Floor New York, NY 10171
Website: www.kelso.com
Year established: 1980
Company type: private equity firm
Employees: 60+
Expertise: private equity funds, leveraged buyouts, recapitalizations, growth capital, healthcare, manufacturing, industrial services, energy, financial services, consumer services, technology, business services, transportation, media, telecommunications, logistics, retail, infrastructure
Parent company: N/A
Key people: Chris Collins and Frank Loverro (co-CEOs), Phil Berney (chair), Lynn Alexander (partner), Bailey Kempner (managing director), Joe Kopilak (CFO), William Woo (CCO)
Financing status: N/A

Kelso & Company, a New York-based private equity firm, has more than $16 billion in capital dedicated to North American middle-market investments. Known for leveraged buyouts, growth capital transactions, and partnerships, it has over 60 employees and has completed more than 140 investments across multiple sectors. With expertise in communications, manufacturing, and other industries, the company has been a prominent player for over four decades.

History of Kelso & Company

Kelso & Company was founded in 1971 by Louis O. Kelso and began as an advisory and merchant banking firm. Known for pioneering employee stock ownership plans (ESOPs), they used ESOPs to support mergers and acquisitions, creating a unique employee ownership model. In 1980, the firm launched its first private equity fund, solidifying its focus on strategic investments.

Following Louis Kelso’s passing in 1991, Joseph Schuchert became the firm’s leader, expanding the company’s role across key North American industries. In 2016, it closed a $2.6 billion fund, targeting mid- to large-sized investments. In 2021, the firm acquired a stake in Savant Wealth Management to support Savant’s growth while keeping its management structure intact.

Products and Services of Kelso & Company

Kelso & Company specializes in tailored investment solutions to meet the needs of middle-market businesses across various sectors. Its offerings include:

• private equity investments: focuses on funding growth for mid-sized companies
• capital support for growth initiatives: allocates resources to fuel company expansion
• management buyouts: facilitates transitions in company leadership through leveraged buyouts
• recapitalizations: restructures capital to optimize financial health
• industry roll-ups: combines multiple businesses under one umbrella for efficiency
• strategic partnerships: collaborates across sectors for long-term growth

Kelso & Company operates with a North American market focus, founded on Louis Kelso’s philosophy that equity ownership aligns management, employees, and shareholders, enhancing performance.

Culture at Kelso & Company

Kelso & Company emphasizes a partnership-driven culture, fostering strong relationships with client companies and management teams. With a commitment to continuity, stability, and goal alignment, it strives to provide the necessary resources for long-term strategic achievements. The company maintains these core principles:

• expertise-driven support: applies 40 years of sector experience to guide business growth
• lasting partnerships: partners remain for an average tenure of 19 years
• personal investments: co-invests with clients to foster shared objectives
• performance-based incentives: offers long-term compensation to align interests
• trust-based relationships: prioritizes transparency, respect, and fair dealings

Kelso & Company fosters an ownership-oriented approach, creating an alignment that supports long-term business growth. Core values of respect, integrity, and excellence distinguish them as a trusted private equity partner. Stability and continuity within their team and leadership further underscore its commitment to these guiding values.

About Kelso & Company Co-CEOs Chris Collins and Frank Loverro and Key People

Chris Collins serves as co-CEO of the company and sits on the management committee as an investment partner. Before his leadership role, Collins completed two years in business school and three years as an analyst at Stonington Partners. He holds an MBA from Stanford and a BA in English from Duke University.

Frank Loverro, Kelso & Company’s other co-CEO, is also on the management committee and an investment partner. Prior to this, he worked in private equity and high-yield finance at The First Boston Corporation. Loverro earned a BA in economics with distinction from the University of Virginia and is an Emeritus Trustee of the College Foundation of Virginia.

Kelso & Company’s key leaders are comprised of experts that lead the direction of the firm’s operations:

• Phil Berney serves as chairperson, overseeing firm operations and growth strategy
• Lynn Alexander as partner for investor relations supports investor communications and relations
• Bailey Blair Kempner acts as managing director for investor relations, leading engagement with institutional investors
• Joe Kopilak serves as partner and CFO, managing financial planning and compliance
• William Woo is partner, general counsel, and CCO, responsible for legal, regulatory, and ethical compliance

The Future at Kelso & Company

Kelso & Company’s recent partnership with Sirius Computer Solutions marks a strategic expansion into technology-driven investments. By acquiring a stake from Thoma Bravo and Sirius’ founder, the firm strengthens its portfolio and resources to support Sirius' operational and strategic growth. This alliance positions the company to advance within the US tech sector while reinforcing Sirius’ market presence and growth initiatives.

The firm has also taken steps to expand within the ultra-high-net-worth advisory sector by supporting Pathstone’s acquisition of Hall Capital Partners. The investment boosts Pathstone’s assets under advisement and underscores Kelso & Company’s commitment to bolstering client-centered firms. This activity aligns with their broader mission to empower wealth management companies and drive sustainable business growth.