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First LBO Thesis
- Klinsky's senior thesis explored LBOs, inspired by KKR taking Houdaille Industries private.
- This was the first public company LBO, sparking his interest in the then-novel field.
Goldman's First LBO
- Klinsky joined Goldman Sachs' small merger department, aiming to specialize in LBOs.
- Goldman, then the size of a law firm, hadn't yet executed an LBO.
Forstmann Little in 1984
- In 1984, Klinsky joined Forstmann Little, one of just 20 private equity firms globally then.
- KKR, the largest, had $400 million in assets; Forstmann Little, second largest, had $200 million.