KKR Joins Blackstone in Stock Market Disillusioned With Buyouts
Thursday, July 15, 2010 : PermalinkBusiness Week – KKR & Co., the firm that made its name in the biggest leveraged buyouts, may find that private equity is its biggest stumbling block in winning over public investors when it debuts in its hometown of New York today.
KKR, which depends on private equity investments for 62 percent of fee-related income, traded at about six times estimated earnings in Amsterdam, where it combined last year with its listed fund. Larger rival Blackstone Group LP, which has reduced dependence on buyouts to 29 percent of fee income, has a price-to-earnings ratio of 10.
