Credit Jitters May Put KKR Offering on Ice

Private equity firm denies reports its IPO will be delayed
By Jason Farago,  Newser Staff
Posted Aug 23, 2007 7:45 AM CDT
Traders and Specialists work the trading floor of the New York Stock Exchange, early Friday, Aug. 17, 2007. Stocks soared Friday, propelling the Dow Jones industrials up more than 180 points, after the...   (Associated Press)
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(Newser) – 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.

The ultrasecretive KKR has been hit hard by the recent crunch; its investment arm has recorded severe losses and several of its largest buyouts (including its planned takeover of Boots Pharmacy in the UK) are on hold. Carlyle, another mayor private equity firm, said yesterday that market volatility has forced it to cancel its own IPO.