What's the purpose of Capital Markets groups for PE firms?
I was reading about KKR's different business lines and was curious what the Capital Markets group is doing compared to one at an Investment Bank. Do they function mainly for the sale of debt/equity securities for KKR itself and its portfolio companies?
Are there Capital Markets for non-megafunds? Like, say mid-small market?
Besides what you said, the KKR capital markets group comes to play when KKR buys companies and the LBOs is financed by bonds. Latest example which crosses my mind is the financing of the KKR's buyout of the Unilever spread business. The lead left bank (or banks) might end up most of the work anyway with KCM helping coordinating the process
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