Wednesday, 6 May 2015
Last updated 3 hours 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."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…