KKR & Co. has banned non‑compete agreements for U.S. portfolio‑company employees earning under $100,000, aiming to show such contracts are not needed for competitiveness. The policy, formalized last year, also prohibits enforcement of existing agreements and plans to extend the ban to higher‑paid staff. Co‑head of global private equity Pete Stavros said non‑competes can suppress wages and noted the move follows a 2024 FTC bid for a nationwide ban that was blocked.
KKR, managing nearly $800 billion, is expanding worker‑engagement measures, including employee‑ownership programs that have returned over $2 billion to 40,000 staff since 2011. Stavros highlighted the firm’s “moral leverage” in this effort and hopes the initiative informs broader policy debates.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing