Goldman Sachs, KKR Pick Private Over Public Lenders for Kahoot

In the tussle between public and private debt markets, Goldman Sachs Group Inc.’s underwrite for Kahoot! ASA means a win for the private side.

Goldman, along with KKR Capital Markets LLC, plans to line up direct lenders for $325 million of financing they underwrote to support the buyout of online education company Kahoot by a consortium of investors, according to people familiar with the transaction.

Goldman’s decision to target direct lenders shows that despite signs the public market for leveraged debt is thawing, the private route still makes for an attractive offering, especially for smaller loans. ...