Mergers & Antitrust Law News

KKR Breaks Into Wall Street Club of Top Buyout Loan Underwriters

Jan. 14, 2020, 11:00 AM

One of the titans of private equity is now also a top debt underwriter.

KKR & Co. muscled into the top 10 arrangers of new U.S. buyout loans last year, jumping ahead of rivals including Morgan Stanley, JPMorgan Chase & Co. and UBS Group AG, according to data compiled by Bloomberg.

Its rise in the lucrative business of arranging the debt is particularity stunning because it was so quick: Until 2017, the firm didn’t even make the cut into the top 20 underwriters for such deals.

Often dismissed by bankers as winning work mostly on its own deals and not...

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