The story
Founded in 1971 as Kelso Bangert & Company, the firm acted as both an advisor and merchant bank, both making investments and advising on mergers and acquisitions. Kelso was founded by Louis O. Kelso, a lawyer and economist who is given credit for developing the concept for employee stock ownership plans, in 1956. Kelso, alongside a sister company Louis O. Kelso Inc., focused initially on M&A activity involving Employee Stock Ownership Plans.
Kelso raised its first private equity fund and has had a dedicated private equity investment platform since 1980. Louis O. Kelso, who died in 1991, transitioned management of the firm to Joseph Schuchert to focus on writing and lecturing.
In June 2016, Kelso closed its latest fund at $2.6 billion.
From Wikipedia’s article on Kelso & Company, shared under CC BY-SA 4.0.7