Thursday, 18 September 2014
Last updated 8 min ago
Aug 1 2012 | 2:29am ET
Kohlberg Kravis Roberts has joined forces with another private equity firm to launch a $300 million middle-market investment-banking business.
KKR and Stone Point Capital each kicked in $150 million to KKR-SPC Merchant Advisors. The new firm will be run initially by KKR's capital markets business, and both firms will be equally represented on its board of directors.
Merchant Advisors will target middle-market and private-equity-backed companies, offering both debt and equity underwriting services. KKR said the company could eventually grow to provide risk management and fundraising services, as well.
Stone Point's investment comes from its Trident V fund.
"The financial services industry is going through unprecedented change that is creating challenges for companies to conduct business," Stone Point co-founder Chuck Davis said. "We see an opportunity for an independent capital markets business that is willing to take on principal risk and allow its clients to pursue their growth and business development initiatives."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.