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KKR Evolves, Hiring Trading Team From Goldman - WSJ.com
OCTOBER 21, 2010 | Wall Street Journal | By GREGORY
ZUCKERMAN Evolution at KKR: Goldman's Genetics, The move KKR. to hire a
team of stock traders from Goldman Sachs is a sign of change sweeping
the private-equity industry. Prestigious buyout firms are plunging into
stock & bond trading, underwriting, & hedge funds, and away from
the LBOs that earned them fame and fortune. As recently as 2004, $14.4
B of KKR's $15.1 B of assets came from leveraged buyouts. Today, after
diving into debt trading, only $41B of its $54.4 B portfolio is from LBO
investments. And KKR, whose stock now trades publicly as KKR & Co.,
is actively examining a push into other businesses, according to people
close to the matter....Top executives at KKR and other firms argue that
in their research on buyout deals they uncover other investing
opportunities, such possible debt and stock purchases, that they can't
profit from without operating other kinds of investment vehicles.
diversification  private_equity  KKR  markets  buyouts  market_research  leverage  stocks  carve_outs 
october 2010 by jerryking
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