Kohlberg Kravis Roberts (KKR), the private equity firm, plans to raise about $1.25 billion (619 million) through a flotation on the New York Stock Exchange, it emerged last night, The Times reports.
In a filing to the US Securities and Exchange Commission, KKR said that none of its existing partners will sell their stakes in the firm but that proceeds from the float will be used to expand its business.
At the time of the Blackstone float, it emerged that KKR had appointed Morgan Stanley and Citigroup, the American investment banks, to prepare a float. Last night, the private equity firm said it hoped to float in the third or fourth quarter of the year.