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.