- via Eric Platt at the FT
- Taking advantage of post-crisis regulations crimping bank activity, KKR this year has jumped all the way to 13th in a ranking of U.S. underwriters of leveraged loans (wasn't even in the top 200 globally in 2016), according to Bloomberg. The private-equity giant sold more of the paper in the first five weeks of 2017 than it did for all of 2016.
- In addition to what's happening with bank regulation, KKR's private-equity expertise and ability to tap into its own balance sheet and internal funds make it a natural for this sort of work. "What they are is a combination sponsor-broker and if you can get both of those things right it is really powerful,” says one P-E investor.
- What about other P-E players squeezing into the business? It hasn't happened so far. “None of its peers has something as deep as this,” says JMP's Devin Ryan.
- Now read: KKR & Co. L.P. (KKR) Presents at Morgan Stanley (NYSE:MS) Financials Conference - Slideshow
Original article