Henry Kravis, co-founder of the giant US private equity firm Kohlberg Kravis Roberts (KKR), once had an unnerving, and ultimately amusing, encounter with the Indian Premier League (IPL) cricket tournament. But no, not as a potential investor. Some years ago, he had set a Google Alert for news on KKR and one day was shocked to receive an alert that said KKR had been smashed. It was, however, not a reference to an unforeseen crisis in the finance company but to another KKR, Kolkata Knight Riders, the Shah Rukh Khan-owned IPL team that had suffered a bad loss in a match. Kravis continues to be spammed with alerts on the team every IPL season but has learnt not to react to the rise and fall in the team's fortunes on the cricket pitch.
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