Has KKR hired IPO underwriters?
According to CNBC, KKR has hired Citigroup and Morgan Stanley to look at an IPO of the firm, in light of the tremendous interest Blackstone has garnered.
This is in keeping with our post from the Henry Kravis speech in Halifax last month:
“As to the rumours about a pending IPO of KKR, he did his best non-denial: ‘CNBC can say what they want. We haven’t announced anything yet,’ before pulling out the ‘I don’t comment on rumours’ line. But none of us heard the word ‘no’.” (“KKR Founder Henry Kravis on PE climate“, May 29-07).
How long will it be before GMP spins out Edgestone as a public company, or BMO Nesbitt Burns recommends that Torquest begin their succession plan process with an IPO of that private equity firm?
Harold, get to it!
interesting to keep in mind that the likes of, Canada’s own, Onex and Clairvest were years ahead of Blackstone!