Best team in KKR PE?

Is it industrials? Know some people say it's their bread and butter but struggling to see why - they're not doing huge deals and not writing $1bn+ checks in that group

Media seems to just be small $500mm - 2bn TEV deals

Healthcare? Tech? FIG? Infra? Or why industrials? Thanks.

Comments (15)

  • Analyst 2 in PE - LBOs
2mo 

Consumer is weakest 

  • 1
2mo 
intern43234, what's your opinion? Comment below:

Why is that? just curious

2mo 
monkeyape1574, what's your opinion? Comment below:

Does their Infra group look at core only or is it more flexible? Are the exits fom this group similar to the exits from Healthcare / FIG / TMT if one wanted to recruit for a long short hedge fund or traditional buyout find? Thanks in advance

  • Investment Analyst in HF - Other
2mo 

Charter Next Gen was $1bn+ equity check fwiw (not sure how much for the fund post LP syndication). Industrials team is often focused on operational improvement or buy & build type of deals which lend themselves to more middle market assets / smaller equity checks, but they certainly have $bn exits (see CHI)

  • PM in Non-profit
2mo 

G

  • 2
Most Helpful
  • Investment Analyst in HF - Other
2mo 

The Industrials team had worked on a middle market strategy before there were plans to start a separate fund (see Hyperion, Minnesota Rubber & Plastics, GSI). Part of this is what I mentioned previously on strategy and the other part is that valuations for these larger deals end up being frothy if you're bidding against all the other MFs in a process for a heavily banked deal. The middle market fund check size was intended to be $200mm or so, so I wouldn't read that as being dilutive to the importance of industrials to the main fund strategy. Industrials (like every vertical at KKR) will review every large cap deal that comes around, it's just not historically been KKR's strategy to pay aggressive multiples for huge deals like CVC / H&F

  • VP in PE - Growth
2mo 

The "best" group varies from person to person. If someone really wanted to get into growth investing but just wanted KKR for the name brand early in their career, working in industrials may not be the "best" group for them, even if KKR arguably has one of the best industrials team on the street. A better way to breakdown this question is to ask the following questions:

1. What industries/strategies/business models interest me most?  

2. Which groups will best position me to achieve where I want to go in 5-15 years?

3. Which groups are the best culture fit?

Based on those 3 questions, the rankings will be different from person to person. 

2mo 
LordWudder, what's your opinion? Comment below:

Healthcare team is probably having fun managing Envision…

  • Analyst 1 in IB-M&A
2mo 

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