KKR related stories
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Private equity firms struggle to comply with Walker rulesOnly half of the 32 participating private equity firms are in full compliance with the BVCA-backed Walker Guidelines, the first report shows. The guidelines were established in 2007 by David Walker. Participating private equity firms include The Blackstone Group, 3i and Kohlberg Kravis Roberts.
- Accused of collusion
Christopher Witkowsky explains why 14 private equity firms may have to defend themselves in a Massachusetts court.
- TPG, Goldman close largest ever private equity exit
The two mega-firms officially closed the sale of Alltel to Verizon Friday for $28bn after holding the wireless carrier for about a year. The firms reaped a profit of $1.3bn on the deal.
- KKR appoints senior adviser for Australia
Leigh Clifford will advise the global buyout firm’s operations in Australia. His 37 years in the mining sector is expected to benefit the firm’s two Australian investments, especially mining company BIS industries.
- KKR names North American co-heads
The New York-based firm has appointed current investment committee members Alexander Navab and Michael Michelson to the newly created positions of co-heads of the firm’s North American practice.
- European GPs turn to discounted cash flow valuations
With the release of year-end results looming, some European private equity firms are following the lead of their US counterparts by considering applying a controversial accounting method.
- Kohlberg to pay reduced price for US catering service Centerplate
The price of the merger, originally valued between $185m and $205m, was reduced to an undisclosed amount due to Kohlberg’s inability to secure financing.
- KKR creates asset management division
Former TCW president William Sonneborn has been named head of KKR Asset Management as well as chief executive of NYSE-listed KKR Financial, which is one of the largest lenders to Sam Zell’s now-bankrupt Tribune.
- Freescale ‘toggles’ to PIK option
In a worrying sign for a major LBO deal, the semiconductor company, bought out by a constortium of private equity investors for $17.6bn two years ago, has chosen to service a portion of its debt through in-kind securities in order to preserve cash.
- AnaCap hires four ex-Lehman executives
While some firms are scaling back operations amid the global financial downturn, others investing in financial services, like AnaCap, are taking advantage of benign recruitment conditions.