Blackstone IPO Fetches $4.13B

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  None of the major players in the "shadow banking" world of private equity—the likes of Blackstone, Carlyle, and KKR—has yet gone bust, and the guessing game of which one will be first is well under way, reports Newser founder Michael Wolff in Vanity Fair. Don't hold your breath. The industry may indeed be "looking at imminent catastrophe and ruination," notes Wolff, but given the greater opportunities for bluffing in private equity, these firms just might be ideally suited to profit from everyone else's ruin. More »

• Credit Jitters May Put KKR Offering on Ice

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  The Times of London claims that buyout firm KKR has postponed plans for a $1.25B float and a public listing because of the fallout from turbulent credit markets. The company had planned its IPO this September but has reportedly pulled back due to waning investor confidence following the subprime collapse. KKR, however, claims that the IPO is continuing full steam ahead. More »

• KKR Makes IPO Official

  Jul 3, 07 7:34 PM CDT
  Undeterred by the possibility of potentially devastatingly tax-law changes, Kohlberg Kravis Roberts firmed up its IPO plans today, filing SEC documents that value the issue at up to $1.25 billion. The private (for now) equity firm said it will list as a partnership, like archrival Blackstone, which went public last month to the tune of more than $4 billion. More »

• Mortgage Worries Drive Markets Down

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  The major exchanges plummeted today, wrapping up a week of seesawing during which the Dow and the S&P 500 lost about 2% and the Nasdaq fell 1.4%. Even Bear Stearns' announcement that it will bail out a hedge fund entangled in subprime loans couldn't stop the bleeding. The Dow ended the day at 13,360.26, down 185. 58, or 1.4%. More »

• KKR Joins IPO Party

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  Corporate raiders Kohlberg Kravis Roberts & Co. have announced an initial public offering, on the heels of a wildly successful $34B IPO by rival Blackstone yesterday. The mammoth LBO group, whose boss Henry Kravis maintains a well known rivalry with Blackstone's Stephen Schwarzmann, waited to make sure Blackstone swam before making the announcement. More »