Separate reports from two leading authorities on the private equity market have thrown a positive light on the recent upheavals in the debt markets.
Ratings agency Moody’s is worried about the levels of debt being issued to private equity. It has highlighted refinancing as a concern claiming firms used this as a way to pass risk on to lenders, despite stated intentions to de-leverage.
The record debt package financing Kohlberg Kravis Roberts’s landmark £11 billion acquisition of Alliance Boots is proving attractive to debt investors. The buyout firm began its roadshow yesterday.
Kohlberg Kravis Roberts will become the latest alternative asset manager to raise funds on the public market, after revealing plans for a $1.25 billion initial public offering on the New York Stock Exchange before the end of the year.
The central Europe mezzanine specialist has held a first close on its debut fund as it looks to capitalise on the favourable conditions for mezzanine investors. The fund has raised just under half of its €125 million target.
Litorina Kapital has bought Securia Systems, a personal insurance and protection company that has enjoyed 90 percent sales growth over the last two years.
In a report likely to catch the attention of the UK Parliament’s Treasury Select Committee investigating private equity, the Bank of England has highlighted the increased risk of systemic failure if a large buyout defaults.
DIFC, the Dubai government-backed investment group which is a big investor in private equity, has launched a record-sized Islamic finance bond, with the majority of its investors coming from outside the MENA region.
Seol-based Jong Won Lee and Yuchul Rhim have become managing directors at the Silicon Valley-headquartered H&QAP.
Venture debt provider Kreos Capital has strengthened its senior team with the recruitment of Luca Colciago from Noble as a partner. The hire comes as the firm continues to invest its latest fund, which was closed in April and is being deployed at a rapid rate.