Tuesday, 5 May 2015
Last updated 3 hours ago
Oct 18 2013 | 12:59pm ET
Private equity giant Kohlberg Kravis Roberts has agreed to buy hedge fund Avoca Capital, giving it an $8 billion foothold in the European credit space.
Terms of the deal were not disclosed. The acquisition will nearly quadruple KKR's European credit assets following closing in the first quarter of next year.
"We believe the European credit space offers significant opportunity," KKR co-CEOs Henry Kravis and George Roberts said. "Avoca has a very strong track record, an entrepreneurial management team and excellent capabilities that are complementary to ours in European senior and liquid credit."
Avoca co-founders Alan Burke and Dónal Daly will join KKR as part of the deal, with the former serving as head of its European credit platform and the latter as a senior adviser.
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…