Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



KKR to Buy European Credit Investment Firm

KKR & Co. (NYSE: KKR  ) has reached across the Atlantic for its latest acquisition. The buyout boutique is set to purchase privately held European credit investment management firm Avoca Capital, the companies announced in a joint press release. The terms of the deal were not made public.

The London- and Dublin-based company, founded in 2002, describes itself as having "a long track record of being one of the top performing investment firms in the European sub-investment grade credit markets." It says it has 6 billion euros ($8.2 billion) of assets under management, and employs 67 people.

In the press release, KKR quoted its co-CEOs Henry Kravis and George Roberts, saying of their new acquisition that it "will enable us to expand our credit platform to offer a full spectrum of credit opportunities globally for our clients."

The transaction, which is subject to customary regulatory approvals, is expected to close in the first quarter of 2014.  

At the end of its most recently reported quarter, KKR had $1.65 billion in cash and short-term investments, and total debt of $1.71 billion.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2690075, ~/Articles/ArticleHandler.aspx, 11/24/2015 5:12:41 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

Today's Market

updated Moments ago Sponsored by:
DOW 17,812.19 19.51 0.11%
S&P 500 2,089.14 2.55 0.12%
NASD 5,102.81 0.33 0.01%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

11/24/2015 4:01 PM
KKR $17.03 Down -0.07 -0.41%
Kohlberg Kravis Ro… CAPS Rating: *****