KKR eyes up stock market after success of rival's $4.1bn float
Tuesday, 26 June 2007
Writes Tom Bawden in New York for The Times Newspaper.
"The race to follow Blackstone on to the public market began yesterday as it emerged that Kohlberg Kravis Roberts (KKR) had appointed Morgan Stanley and Citigroup to prepare a flotation.
Although KKR has not made a firm decision, the buyout group came closer to pushing the button on its own initial public offering (IPO) yesterday as Blackstone's shares soared by as much as 24 per cent in their first morning of trading. " Full story
I must admit to a slight wry smile about this story. Why? A private equity company going public...!! when investors are clamouring to invest into private equity for high returns. Of course it's not a case of the pot calling the kettle black, but extraction of the wealth by the owners of KKR through a public offering allows an exit strategy for them.
Maybe if the owners don't have the energy or commitment that they once had, then a public sale offers an opportunity to capitalise on past success. Investors however, want future success. Only the future will tell us how successful this Private Equity firm will be.
My best wishes are to the owners, in fact, why shouldn't company owners seek to conserve their wealth and create a succession strategy. Perhaps they need a wealth manager. I know a good one!
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posted by Murray Round Wealth Management @ 20:50,
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Nicholas Round
Nic is the Managing Director of Murray Round Wealth Management Limited, who seeks to ensure the advice provided is truly independent. Based in Shropshire with clients local, national and worldwide, Nic has strived to find the best possible service for his clients needs, by researching and studying the market, trends and philosophies. Nic strongly believes Asset Class Management will bring his clients Financial Freedom, Independence and Happiness.
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