KKR plans IPO in Blackstone’s wake

Leveraged buyout giant Kohlberg Kravis Roberts Co (KKR) announced it intends to raise $1.25 billion in a stock offering, less than two weeks after private equity rival Blackstone went public.

The long secretive KKR said Tuesday that it had filed an initial public offering registration statement with the US Securities and Exchange Commission and would list its common shares on the New York Stock Exchange.

KKR, formed in 1976 by legendary investors Jerome Kohlberg, Henry Kravis and George Roberts and which remains controlled by the latter two, has been involved in transactions involving companies worth $279 billion since it began, according to company information.

The company as of March 31 held equity investments worth $76 billion, including Toys “R” Us, Australia’s Seven Media Group, France’s Tarkett, Sealy Mattresses, and the Netherlands-based Nielsen group. afp

source:www.dailytimes.com.pk