Private Equity: Public vehicles still hold buy-out allure
KKR's public fund-raising has been hailed as an innovation that will change the private equity industry forever. Ronald Cami charts the background to the move and assesses the prospects for rivals hoping to storm the stock markets
Kohlberg Kravis Roberts & Co’s (KKR’s) recent $5bn (£2.7bn) publicly-traded buy-out fund led many private equity firms to consider taking one of their funds public. Notwithstanding indications that the market for similar funds is currently shut, many analysts still believe the KKR transaction is an industry-changing event that has fundamentally altered the capital-raising environment for buy-out funds.
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