Katie Boland, co-founder of the Delta Fund, recently wrote an article arguing that KKR isn’t providing employee-ownership, but is “equity washing." A baseline employee ownership deal (known as an ESOP) would be much better, she says.

I think it’s a mistake to compare a private equity company like KKR to traditional employee-owned companies—we should compare them to other private equity companies. Is KKR’s model better than what other employee-owned companies are doing? Probably not! Is KKR’s model better than what other PE companies are doing? ABSOLUTELY!

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