PE Capital markets?
I was wondering are there really capital markets teams within large PE firms?
It seems that the PEs could go to the BBs for Investment banking advice or arrangements (debt, equity financing or advisory) so whats the point of having a internal team (since it wont come cheap either)?
Lastly, would appreciate if someone can highlight the difference on
1) This team vs. traditional BB capital markets 2) This team vs. the PE investing teams within the PE firm
Cheers SuperM
KKR has a dedicated capital markets team. It is a really good group of people and they're expanding globally. But this is part of KKR's business strategy to become a global financial powerhouse. Providence Equity also has a dedicated capital markets division in NY. Great bunch of people as well.
From what some guys at I know at Providence and KKR have told me is that the capital markets team in PE is similar to BB ECM but a lot smaller so it feels different. The level of responsibility also is much higher - but thats given as you keep moving up the food chain.
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