KKR related stories
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Istithmar triumphs in $942m Barneys bidDubai-based Istithmar has had its third bid accepted in the battle for high-end department store Barneys New York, as rival bidder Fast Retailing, a Japanese company, pulled out of the bidding.
- TH Lee launches credit arm with $500m
US buyout firm TH Lee has created a credit fund with $500 million in commitments and a dedicated credit division staffed largely by ex-AIG executives, including AIGGIG’s former head of private placement, Sam Tillinghast.
- Demand still exceeds supply in Asia(2)
The Asian private equity market continues to grow at a rapid rate, but a new report questions whether there are enough quality managers to invest the vast sums pouring into the asset class. James Taylor reports.
- KKR Financial sells off PE stakes
The beleaguered NYSE-traded affiliate of KKR will raise roughly $191 million through the sale of seven unidentified direct stakes in portfolio companies amid ‘disruption’ in the mortgage market.
- Banks syndicate $10bn of First Data debt
The banks underwriting KKR’s First Data deal have syndicated more than half the LBO’s $17 billion debt component, while HSBC has opted to hold on to a larger portion of senior debt than its peers.
- Credit Suisse adds to Asia sponsor coverage group
Credit Suisse has hired Ben Ngai from Citi to focus on sponsor coverage in China.
- KKR, Goldman drop $8bn audio deal
KKR and Goldman Sachs plan to walk away from their previously agreed $8 billion buyout of Harman International Industries, claiming the audio equipment maker has had a material adverse change in its business and breached the agreement. Harman disputes the claims.
- Virgin Media confirms auction delay
The UK cable company has confirmed widespread reports that its auction has had to be postponed, as the volatility in the credit markets claims its latest victim.
- Consortium to drop $25bn Sallie Mae deal
A JC Flowers-led consortium has said it will likely drop its $25 billion bid for Sallie Mae, but is willing to renogotiate the deal, taking into consideration a changed economic and legislative environment.
- KKR’s Chinese cement deal is third for $4bn Asia fund
Kohlberg Kravis Roberts has invested $115 million in its first private equity transaction in China. It is the third for a $4 billion fund KKR has raised, its first Asia-dedicated investment vehicle.