Topic: How To Invest

Pat: I was wondering if you could give me any information about KKR & Co. Your thoughts on it would be appreciated.

Article Excerpt

KKR & Co. LP (formerly Kohlberg Kravis Roberts & Co. LP), $22.65, symbol KKR on New York (Shares outstanding: 428.6 million; Market cap: $18.3 billion; www.kkr.com), is an asset manager with 14 offices across North America, Europe, the Middle East, Asia and Australia. The company serves three main markets: private (investment funds); public (leveraged loans, high-yield bonds, special situation assets, distressed assets and rescue, debtor-in-possession and exit financings); and capital (debt/equity financing). As of September 30, 2014, KKR had $96.0 billion of assets under administration. It continues to take advantage of strong financial markets to sell some of its investments at a profit. In the latest quarter alone, it made 10 sales, the largest being Visma, Modern Dairy and Ipreo. It still has a number of pending deals, including US Foods, Biomet and Alliance Boots. Meantime, KKR continues to benefit from low borrowing rates and opportunities to buy firms at attractive prices. Recent acquisition targets included Preferred Sands, which supplies sand for hydraulic…