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    Home»Private Equity»Private Equity’s Tech Bonanza Continues As KKR Stands To Make Billions On AppLovin Deal
    Private Equity

    Private Equity’s Tech Bonanza Continues As KKR Stands To Make Billions On AppLovin Deal

    April 8, 20211 Min Read
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    The technology and software sector continues to be a goldmine for the world’s biggest and best performing private equity firms. Add KKR & Co., cofounded by billionaires Henry Kravis and George Roberts, to the list of mega-firms set to mine one of its great dealmaking coups in the tech sector.

    AppLovin, a pioneering maker of software for mobile gaming application developers, is poised to go public at a valuation of about $30 billion, according to a report from Reuters. AppLovin has set its IPO range at between $75 a share and $85 a share, and is looking to raise $2 billion by selling 25 million shares.

    For KKR, which invested $400 million into Applovin in July 2018 out of its flagship KKR Americas XII Fund, the looming IPO will yield a home run investment. According to AppLovin’s S-1 filing, KKR’s funds hold over 110 million AppLovin shares. An IPO at the midpoint of AppLovin’s range would create an investment worth over $8 billion. That should yield an astronomical investment rate of return for KKR, which harkens back to the glory days of the buyout industry.

    Read more/Source: Forbes

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