Pentti Kouri
Encyclopedia
Pentti Juho Kalervo Kouri (February 12, 1949 – January 22, 2009) was a Finnish
economist
and venture capitalist. He was born in Kemijärvi
.
from the University of Helsinki
in 1970. In that same year, when he was 21 years old, he was hired by the International Monetary Fund
. It was at IMF's research organization where Kouri first met Michael G. Porter, an Australian economist, with whom he later developed the Kouri-Porter model. Kouri got his Ph.D.
in Economics from MIT in 1974. He has served as a professor of economics at Stanford
, Yale
, Helsinki
, and New York
universities.
Later he became known as a venture capitalist, for instance, he managed George Soros
's investments to Finland. Today, he is remembered for his participation in the controversial "Kouri-deals" in the late 1980s. In the "Kouri-deals", a group of investors including Dr. Kouri collaborated to buy a majority of the two largest banks of Finland
, mostly with borrowed money, causing a political outcry.
. Until his death, he sat on the Board of Trustees of Dia Art Foundation
.
On May 2001, the Kouri Capital group led by Dr Pentti Kouri and George Soros was declared bankrupt. American Heritage Fund lost a large amount of money because of this insolvency.
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and venture capitalist. He was born in Kemijärvi
Kemijärvi
Kemijärvi is a municipality of Finland and the northern-most town in Finland. It is located in the province of Lapland. The municipality has a population of and covers an area of of which is water...
.
Career
Kouri was the first Finn to get a scolarship to the United World College of the Atlantic. After graduating from there, he got his Master's degree in economicsEconomics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from the University of Helsinki
University of Helsinki
The University of Helsinki is a university located in Helsinki, Finland since 1829, but was founded in the city of Turku in 1640 as The Royal Academy of Turku, at that time part of the Swedish Empire. It is the oldest and largest university in Finland with the widest range of disciplines available...
in 1970. In that same year, when he was 21 years old, he was hired by the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
. It was at IMF's research organization where Kouri first met Michael G. Porter, an Australian economist, with whom he later developed the Kouri-Porter model. Kouri got his Ph.D.
Ph.D.
A Ph.D. is a Doctor of Philosophy, an academic degree.Ph.D. may also refer to:* Ph.D. , a 1980s British group*Piled Higher and Deeper, a web comic strip*PhD: Phantasy Degree, a Korean comic series* PhD Docbook renderer, an XML renderer...
in Economics from MIT in 1974. He has served as a professor of economics at Stanford
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
, Yale
Yale University
Yale University is a private, Ivy League university located in New Haven, Connecticut, United States. Founded in 1701 in the Colony of Connecticut, the university is the third-oldest institution of higher education in the United States...
, Helsinki
Helsinki
Helsinki is the capital and largest city in Finland. It is in the region of Uusimaa, located in southern Finland, on the shore of the Gulf of Finland, an arm of the Baltic Sea. The population of the city of Helsinki is , making it by far the most populous municipality in Finland. Helsinki is...
, and New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
universities.
Later he became known as a venture capitalist, for instance, he managed George Soros
George Soros
George Soros is a Hungarian-American business magnate, investor, philosopher, and philanthropist. He is the chairman of Soros Fund Management. Soros supports progressive-liberal causes...
's investments to Finland. Today, he is remembered for his participation in the controversial "Kouri-deals" in the late 1980s. In the "Kouri-deals", a group of investors including Dr. Kouri collaborated to buy a majority of the two largest banks of Finland
Finland
Finland , officially the Republic of Finland, is a Nordic country situated in the Fennoscandian region of Northern Europe. It is bordered by Sweden in the west, Norway in the north and Russia in the east, while Estonia lies to its south across the Gulf of Finland.Around 5.4 million people reside...
, mostly with borrowed money, causing a political outcry.
Personal life
He was married to Elly O. Kouri and divorced in 1995. Pentti Kouri died in January 2009 in Los AngelesLos Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
. Until his death, he sat on the Board of Trustees of Dia Art Foundation
Dia Art Foundation
Dia Art Foundation is a non-profit organization that initiates, supports, presents, and preserves art projects. It was established in 1974 as the Lone Star Foundation by Philippa de Menil, the daughter of Houston arts patron Dominique de Menil and an heiress to the Schlumberger oil exploration...
.
On May 2001, the Kouri Capital group led by Dr Pentti Kouri and George Soros was declared bankrupt. American Heritage Fund lost a large amount of money because of this insolvency.
Companies related to Kouri
- NokiaNokiaNokia Corporation is a Finnish multinational communications corporation that is headquartered in Keilaniemi, Espoo, a city neighbouring Finland's capital Helsinki...
: Pentti Kouri was a shareholder and member of the board of directors. - Invisible hand.
- Espial
- Amiga, Inc.Amiga, Inc.Amiga, Inc. is the company that holds the intellectual property associated with the Amiga personal computer , including the Amiga trademark.-Brief history of Amiga brand:...
: Pentti Kouri is the chairman of the board. - Simply TV Inc.: Pentti Kouri is a shareholder and chairman of the board.
- hakia, Inc.: Pentti Kouri is a shareholder and member of the board of directors.
- Askar CapitalAskar CapitalAskar Capital was an investment bank in Iceland offering advisory services related to investments in alternative financial products. The bank was established at the beginning of 2007 after a series of mergers, building on its history from 1993 as a financial advisor. The specialities of Askar...
: Pentti Kouri is a member of the advisory board. - Ztango: Pentti Kouri was a Co-Founder and an investor. The company was acquired by WiderThan in 2004.
Sources
- Pentti Kouri (1996) Suomen omistaja ja muut elämäni roolit, Otava (trans. of title: Owner of Finland and other roles of my life)
- Harri Saukkomaa (1991) Kuka tarvitsi Pentti Kouria?, Otava (trans. of title: Who needed Pentti Kouri?)