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Kohlberg to list on NY Exchange
28 July 2008
KKR, co-founded by "buyout king" Henry Kravis, will buy its listed Amsterdam investment fund and relist the new firm in new York.
A listing could value the KKR and fund at up to $19 billion (£9.57 billion), and KKR at up to $15 billion. The long-expected listing comes at a hard time for the private equity industry.
The mega-deals of recent years have dried up in the credit crunch and share markets face turbulence.
KKR said a listing would enable it to have a more permanent capital base, use stock to retain and attract staff and have a currency to make acquisitions.
"Moving forward with a public listing will allow KKR to do what we do best - grow companies around the world and produce solid returns for investors from ... a deeper capital base," KKR's co-founders Kravis and George Roberts said.
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