Private equity powerhouse KKR has been on a monumental spending spree this year, closing more than $120 billion in deals to date in 2007—more than twice its closest rival. Now the Financial Times wonders whether the veteran PE firm it may be hitting the market too forcefully.
“They have definitely become more aggressive, even in their pricing," says one high-level investment banker. Goldman Sachs, the year's second-biggest player, has closed only $56 billion, and Blackstone less than $15 billion. But KKR is quick to downplay the hype, saying that recent acquisitions such as TXU and Alliance Boots are the result of long-term planning that's only now paying off.