In the large buy out space, which is where we (Kohlberg Kravis Roberts) focus our efforts, there are relatively few firms with the capital, experience, infrastructure and networks to compete effectively with the large complex companies that we seek to acquire.

Our industry expertise (at KKR) enables the firm not only to make better investment choices but also to win the confidence of senior management and sellers, which has enabled us to purchase many companies on an exclusive basis.

As I said there is nothing wrong with failing. Pick yourself up and try it again. You never are going to know how good you really are until you go out and face failure.

I want people who will stand up to me. People who are not afraid to say exactly what's on their minds, even though that's probably not what I want to hear. That's what I want.

If you don't have integrity, you have nothing. You can't buy it.

It's not just buying the company. Sure, we picked the right companies, and we picked the right management and, most importantly, we've given them the right incentive to perform.

One, I love the creativity. I love the ability to create a capital structure that is appropriate for a company, no matter what field it happens to be in.