KKR to Buy European Credit Investment Firm

Before you go, we thought you'd like these...
Before you go close icon

KKR & Co. has reached across the Atlantic for its latest acquisition. The buyout boutique is set to purchase privately held European credit investment management firm Avoca Capital, the companies announced in a joint press release. The terms of the deal were not made public.

The London- and Dublin-based company, founded in 2002, describes itself as having "a long track record of being one of the top performing investment firms in the European sub-investment grade credit markets." It says it has 6 billion euros ($8.2 billion) of assets under management, and employs 67 people.

In the press release, KKR quoted its co-CEOs Henry Kravis and George Roberts, saying of their new acquisition that it "will enable us to expand our credit platform to offer a full spectrum of credit opportunities globally for our clients."

The transaction, which is subject to customary regulatory approvals, is expected to close in the first quarter of 2014.  

At the end of its most recently reported quarter, KKR had $1.65 billion in cash and short-term investments, and total debt of $1.71 billion.


The article KKR to Buy European Credit Investment Firm originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in KKR & Co. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading