Description They're the softer side of private equity. Kelso & Company is a private equity firm that specializes in supporting management buyouts. It eschews hostile takeovers and liquidations and is often a "white knight" investor that helps companies dodge unsolicited bids. The firm's investments generally center around industrial and consumer products concerns. Kelso & Company's most recent investment fund, its eighth, garnered more than $5 billion in investment capital. The firm was founded in 1971 by the late renowned economist Louis O. Kelso, and has invested in more than 100 companies with a total capitalization of about $35 billion since establishing its first investment partnership in 1980.