KKR & Co. deployed a record US$12.5 billion in the fourth quarter, finding buying opportunities in the market turbulence of the COVID-19 pandemic. New York-based KKR also had a record fundraising for the year, taking in about US$44 billion, according to a statement Monday. KKR “had the most active fundraising and deployment year in our history,” co-Chief Executive Officers Henry Kravis and George Roberts said in the statement.

Private equity firms have been bringing in cash at a rapid pace and KKR has been among the most active dealmakers. Notable acquisitions last year included a US$3 billion-plus deal for lens retailer 1-800 Contacts and spending 4.2 billion pounds (US$5.8 billion) for waste management business Viridor Ltd. It has also expanded its U.S. industrial real estate holdings.

Its US$2.8 billion Dislocation Opportunities Fund, raised at the height of pandemic anxiety, gained 52 per cent last year as it seized on credit opportunities. KKR shares have outpaced rivals. They rose 36 per cent in the 12 months through Monday. Blackstone Group Inc. and Apollo Global Management Inc. advanced 12 per cent and 7.6 per cent, respectively.


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Source: BNN Bloomberg

By Melissa Karsh