|Bid||0.00 x 1000|
|Ask||0.00 x 1000|
|Day's Range||28.07 - 28.64|
|52 Week Range||18.30 - 28.73|
|Beta (3Y Monthly)||1.70|
|PE Ratio (TTM)||10.52|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||0.50 (1.77%)|
|1y Target Est||31.69|
Optiv Security, in partnership with Momentum Cyber, has announced findings from its 2019 Security Technology Spend Insights Report, the leading barometer for evaluating technology buying trends.
(Bloomberg) -- KKR & Co. is considering a sale of its Austrian and German locomotive leasing business, ELL GmbH, people familiar with the matter said.The buyout firm is in early discussions with potential advisers as it reviews its holding, the people said, asking not to be identified because the deliberations are private. ELL could fetch a valuation of more than 1 billion euros ($1.1 billion) including debt, the people said.KKR has been an investor in ELL through its global infrastructure fund since 2014. The company acquires locomotives and leases them to the European railway industry across continental Europe.Any sale would add to the $156 billion of private equity deals in Europe this year, according to data compiled by Bloomberg. A representative for KKR declined to comment.KKR has also been considering an exit from British scientific measurement and testing company LGC Group, which could fetch more than $2 billion including debt, Bloomberg News has reported. The sale has attracted initial interest from suitors including Thermo Fisher Scientific Inc., Danaher Corp., Blackstone Group Inc. and Carlyle Group LP, people with knowledge of the matter said this month. To contact the reporters on this story: Dinesh Nair in London at email@example.com;Sarah Syed in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Dinesh Nair at email@example.com, Ben Scent, Neil CallananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
KKR, a leading global investment firm, and Burning Glass Technologies, the world’s leading real-time labor market data source, today announced that KKR has completed the acquisition of a majority stake in Burning Glass from Providence Strategic Growth. The investment is part of KKR’s Global Impact strategy, which is focused on identifying and investing behind companies whose core business models provide commercial solutions that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (SDGs).
KKR & Co Inc is preparing to list a A$500 million credit fund in November in Australia, marking the U.S. buyout firm's first investment vehicle in the country, two people with direct knowledge of the matter told Reuters. The KKR Credit Income Fund is aimed at investor demand for higher-yielding products amid falling global interest rates, offering target annual dividend payments of 4% to 6%, the people said, declining to identified because they were not allowed to speak with media. A KKR spokeswoman declined to comment on plans to list a credit fund on the Australian Securities Exchange, but said the firm was watching the "interesting space".
(Bloomberg) -- A group of well-known analysts are starting their own research firm covering technology, media and telecom -- and they already have a big-name client: KKR & Co.The new firm, called LightShed Partners, will offer subscribers research on public and private companies. It was co-founded by analysts formerly at BTIG LLC, including Richard Greenfield, Walter Piecyk, Brandon Ross, Joseph Galone and Mark Kelley.The firm formed a strategic relationship with KKR, the private equity giant and longtime investor in telecom, media and technology companies. KKR will work with LightShed’s founders as they build a research platform.Greenfield is probably the best known of the group, thanks to his social-media persona and willingness to challenge media giants. He refers to himself as a “media futurist” and has long been critical of Walt Disney Co.Disney Chief Executive Officer Bob Iger has blocked him on Twitter and the company won’t take his questions during earnings calls, according to Greenfield.Greenfield often posts photos and videos of himself waiting to ask a question during company calls with analysts. He has also attempted to coin hashtags about the future of media, including “goodluckbundle” and “goodlucktv.”Piecyk said the new firm will be unique because the analysts won’t be afraid to issue sell ratings on stocks and ask hard questions on earnings calls while some of their peers are “more interested in saying, ‘Great quarter.’”The analysts declined to disclose the price of a subscription to their research, but said it would be tailored for institutional investors. They said they expect to create a media business over time, including starting their own podcasts.They said they won’t be investing in public companies, but would look to invest in private companies.“We’ve done private investing individually in the past and hope to figure out a way to formalize that,” Greenfield said.The firm will be working with KKR on “interesting events and corporate activities,” Greenfield added.“For us, this is about supporting entrepreneurs and independent thinkers in the areas of technology, media and communications,” Ted Oberwager, director of KKR’s TMT investing team, said in a statement.(Updates with LightShed comments starting in seventh paragraph.)\--With assistance from Lucas Shaw.To contact the reporter on this story: Gerry Smith in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The 16 acre property stands along Old Roswell Road in an area of low-rise industrial and office space that is filling in with new housing
SYDNEY/SINGAPORE, Sept 10 (Reuters) - Southeast Asian online realtor PropertyGuru Group, whose backers include buyout firms TPG Capital and KKR, is planning an Australian IPO that could raise up to A$400 million ($275 million) this year, sources with knowledge of the deal said. It would be the country's largest offering this year after Fineos, an Irish insurance software firm, listed in Australia last month after a A$190 million IPO, Refinitiv data showed.
(Bloomberg) -- Henry Kravis punched the air with his fists when Rafael Nadal both broke and held serve in the decisive fifth set of the U.S. Open Men’s Final.Kravis was watching just steps from the court with KKR colleagues Joe Bae, Pete Stavros and Tagar Olson as Nadal defeated Daniil Medvedev Sunday in an epic 5-hour match to win his 19th Grand Slam. Also sitting court side, in arguably the best seats in Arthur Ashe stadium, were Bill Ackman, Ralph Lauren and Howard Lutnick.Read more: Nadal moves within one of Federer on all-time slams listLutnick was in a suite with Carl Icahn and Eminence Capital’s Ricky Sandler on Friday night, and with his sons on Sunday. Wearing a charcoal gray hoodie and jeans, Lutnick shared his first memories of the U.S. Open, when the tournament was still held at Forest Hills before moving to Flushing Meadows in 1978.“We didn’t really have money for tickets, so me and my little brother would wait outside,” he recalled. “I knew all the names of all the players so in the early rounds, I would find players who were way down in the list and we’d go running up to them and get their autograph."“They’d ask ‘Are you going to come in and root for us?’ and we’d say ‘Sorry, we don’t have any tickets.’ So they’d say ‘Hold on,’ go inside, come back and give us a couple,” said Lutnick, who recalled watching such past champions as John McEnroe and Bjorn Borg and his friend, Dick Stockton.Sitting ahead of the KKR contingent in the front row was hedge fund manager John Paulson and behind him, Michael Tennenbaum, the former Bear Stearns executive who authored a book titled “Risk: Living on the Edge.”Like Lutnick, Tennenbaum experienced his first US Open at Forest Hills. “You’d see the tennis champs going back on the subway, like Roscoe Tanner,” said Tennenbaum, dressed in a navy t-shirt, colorful striped pants and bold red shoes to match his eye-glasses.Nadal was presented his $3.85 million prize money check by Jennifer Piepszak, JPMorgan’s CFO.The usual contingent of Hollywood actors were also sprinkled throughout the crowd, including Michael Douglas, Catherine Zeta Jones and Mariska Hargitay.Financiers including Stephen Schwarzman and Kip DeVeer, as well as the Duchess of Sussex Meghan Markle, showed up for Saturday’s women’s final. It was won by 19-year-old Bianca Andreescu, who upset crowd favorite Serena Williams 6-3, 7-5 to become the first Canadian to win a Grand Slam title.“I was sad to see Serena lose, but she did come back like a champion from down 5-1" in the second set, said BentallGreenOak’s Sonny Kalsi.After the women’s final, guests including Olivia Flatto, Robert Wolf and Marathon’s Bruce Richards dined on burrata and beef tenderloin at the International Tennis Hall of Fame’s Legends Ball honoring Rod Laver. Co-chairs of the event at Cipriani 42nd Street included Jody and John Arnhold, Andrea and Erik Lisher, Judy and Russ Fradin, Fred Luddy, Debbie and Ajay Nagpal, Rob Pohly and Barbara and Gary Tolman.\--With assistance from Amanda Gordon and Erik Schatzker.To contact the reporter on this story: Gillian Tan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Pierre Paulden at email@example.com, Steven CrabillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Saudi Arabia’s equity index ended lower for a second day, after spending much of the trading session in the green, as investors assessed changes in the top position within the country’s energy ministry.Over the weekend, the Saudi king named his son as energy minister replacing Khalid al-Falih, who had been the face of OPEC diplomacy over the past three years. The new minister, Prince Abdulaziz bin Salman, is half-brother to the Crown Prince Mohammed bin Salman and has served in the energy ministry for decades, most recently as state minister for energy affairs. He is seen as a capable and experienced technocrat.While the reshuffle is seen as having little direct impact on the Saudi market, investors have been shying away from some expensive stocks in Riyadh, said Marwan Haddad, senior portfolio manager at Emirates NBD Asset Management, in an interview to Bloomberg Television.Petrochmical’s giant Saudi Basic Industries Corp. is trading near the highest valuation in over a decade while projected earnings per share fall to the lowest since May 2016.MIDDLE EASTERN MARKETS:Saudi Arabia’s Tadawul All Share Index shed 0.1%, after rising as much as 0.6% earlierThe Tadawul Banks Index fell 0.4%, with six of its 11 members declining Haddad, from Emirates NBD Asset Management, highlights buying opportunities in the United Arab Emirates and in EgyptSectors he’s bullish on include healthcare, transportation and logistics Gauges in Dubai, Abu Dhabi, Bahrain, Kuwait, Oman lost between 0.2% and 0.8% In Dubai, Emirates NBD sank as much as 3.6%READ: Emirates NBD Close to Hiring Banks for $2 Billion Rights Issue In Israel, the TA-35 advanced 0.7% as of 3:19 p.m. local time, boosted by pharmaceutical companiesPerrigo +4.9%; Teva Pharmaceutical +2.2%READ, on Sept. 6: KKR’s Arbor, Teva Drop Patent Suit on Copies of Head-Lice LotionMORE: Kuwait’s CMA to Start Stake Sale of Bourse to Local Investors\--With assistance from Yousef Gamal El-Din, Manus Cranny and Dana El Baltaji.To contact the reporter on this story: Filipe Pacheco in Dubai at firstname.lastname@example.orgTo contact the editors responsible for this story: Celeste Perri at email@example.com, James Cone, Stephen KirklandFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
What a difference a year makes. Loans backing US leveraged buyouts (LBOs), including a US$500m term loan for the Carlyle Group’s acquisition of ship repair services company Vigor Industrial and a US$755m first-lien loan supporting Thoma Bravo’s purchase of data provider J.D. Power Associates, are expected to garner demand throughout September, among other debt financings. This month, US investors have instead set sights on smaller-sized, but higher-quality leveraged loans from recognizable sponsors and borrowers.
Medical device makers Thermo Fisher Scientific Inc and Danaher Corp have expressed interest in KKR & Co's potential sale of its scientific measurement and testing company LGC Group, Bloomberg reported on Friday. The sale of LGC could get the private equity firm more than $2 billion, including debt, the report said, citing people familiar with the matter. Blackstone Group Inc, Carlyle Group LP, CVC Capital Partners and EQT Partners are also weighing offers for the business, according to the report, which added that the talks are at an early stage.
(Bloomberg) -- KKR & Co.’s potential sale of British scientific measurement and testing company LGC Group has attracted initial interest from suitors including Thermo Fisher Scientific Inc. and Danaher Corp., people familiar with the matter said.Blackstone Group Inc., Carlyle Group LP, CVC Capital Partners and EQT Partners are also weighing offers for the business, the people said, asking not to be identified because the deliberations are private. LGC could fetch more than $2 billion including debt in a sale, the people said.Suitors expect KKR to send out a so-called information memorandum later this month with preliminary information on the business, the people said.LGC helps test whether foods contain allergens or if racing greyhounds have been doping. The company generates annual earnings before interest, taxes, depreciation and amortization of about $150 million after factoring in its recent acquisitions, the people said.Deliberations are at an early stage, and there’s no certainty the suitors will proceed with firm bids, the people said. Representatives for Blackstone, CVC, EQT, KKR and Thermo Fisher declined to comment. A spokeswoman for Carlyle said she couldn’t immediately comment, while representatives for Danaher didn’t respond to requests for comment.KKR is working with advisers as it looks for ways to exit its holding in the business, which it bought in 2016, people familiar with the process said previously. The company has made a number of acquisitions since the buyout firm’s investment.In August, LGC bought a majority stake in Toronto Research Chemicals, a firm that makes chemicals used in reference standards and research. That deal followed its September 2018 acquisition of reagents maker Berry & Associates.LGC traces its origins to 1842 to a body created in London to regulate tobacco adulteration. It still provides independent chemical and bioanalytical measurements. Previously known as Laboratory of the Government Chemist, the firm was privatized in 1996.\--With assistance from Kristen V. Brown.To contact the reporters on this story: Sarah Syed in London at firstname.lastname@example.org;Dinesh Nair in London at email@example.comTo contact the editors responsible for this story: Dinesh Nair at firstname.lastname@example.org, Amy Thomson, Ben ScentFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
AppLovin Corp, the U.S. mobile marketing firm backed by private equity firm KKR & Co Inc, said on Thursday it has invested in several gaming studios, as it adds to its library of games ahead of a potential initial public offering. Palo Alto, California-based AppLovin said it has acquired a stake in Belarusian game studio Belka Games, which is the creator of mobile puzzle game Clockmaker. AppLovin also disclosed investments in PeopleFun and Firecraft Studios, the latter of which developed mobile game Matchington Mansion which has been rated more than 1 million times on the Google Play Store.
FRANKFURT/BERLIN, Sept 5 (Reuters) - Private equity firm KKR is preparing for a stock market flotation or sale of German defence supplier Hensoldt in a potential 2 billion euro ($2.2 billion) deal, people close to the matter said. The buyout group has in recent weeks listened to bankers present options for exiting its investment, including a listing of 20-30% on the stock exchange or a sale to a defence group or private equity business next year, they said, adding KKR was expected to hire an adviser soon to help arrange a deal. KKR declined to comment.
FRANKFURT/BERLIN, Sept 5 (Reuters) - Private equity firm KKR is initiating preparations for a stock market flotation or sale of German defence supplier Hensoldt in a potential 2 billion euro ($2.2 billion) deal, people close to the matter said. The buyout group has in recent weeks listened to bankers present exit options, including a listing of 20-30% on the stock exchange or a sale to a defence group or private equity investor next year, they said, adding that KKR is expected to soon mandate an advisor to help organise the deal. KKR declined to comment.
(Bloomberg) -- StubHub, the ticket marketplace EBay Inc. is selling, has drawn interest from suitors including rival Vivid Seats LLC and buyout firm KKR & Co., according to people familiar with the matter.Silver Lake is weighing a bid for StubHub, which could fetch about $3 billion, said the people, who asked to not be identified because the matter isn’t public. The sale process has begun in recent weeks, they said. No decision has been made and the suitors may opt to not proceed with offers, they said.EBay in March announced a strategic review of assets including StubHub and its Classifieds Group in conjunction with a settlement agreement with activist investors Starboard Value and Elliott Management Corp., which had called for the sale or spinoff of those two divisions. EBay hasn’t yet decided if or when to proceed with a sale process for the Classifieds business, the people said.Representatives for EBay, KKR and Vivid Seats declined to comment. A representative for Silver Lake didn’t respond to requests for comment. Chicago-based Vivid Seats is backed by the private equity firms GTCR and Vista Equity Partners.EBay fell 1.4% to close at $39.74 in New York trading Tuesday, giving the San Jose, California-based company a market value of about $33.3 billion. The shares have risen about 14% in the past year.StubHub, which lets people buy and sell tickets to concerts and sporting events online, had $1.1 billion in net transaction revenue in 2018, an increase of 6% from a year earlier, according to EBay’s most recent annual report. EBay bought it for $310 million in 2007.Classifieds had about $1 billion in revenue during that same time period, an increase of 14% from a year before. Classifieds, which operates under brands including Mobile.de, Kijiji and Gumtree, helps people list various products and services, often for free.(Adds interest from Silver Lake in second graph.)\--With assistance from Liana Baker.To contact the reporters on this story: Kiel Porter in Chicago at email@example.com;Scott Deveau in New York at firstname.lastname@example.org;Gillian Tan in New York at email@example.comTo contact the editors responsible for this story: Daniel Hauck at firstname.lastname@example.org, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- European phone companies are selling their mobile masts and growth-hungry U.S. tower companies have money to spend -- it looks like a marriage made in heaven.Instead, firms like American Tower Corp. and Crown Castle International Corp. are largely staying away, making it easier for Spain’s Cellnex Telecom SA and infrastructure funds managed by Macquarie Group Ltd., KKR & Co. and others to sweep up the region’s tower assets.Their hesitation is driven partly by price: the global hunt for yield has driven up the premium for these assets, which offer reliable, steady income streams. Independent tower companies also won’t pay top dollar unless they see a path to significant revenue growth -- and that’s where they have a problem with Europe.“The American tower companies say, ‘OK, Europe is fine at the right price, but prices are not where we need them to be, so we think the opportunities elsewhere are more attractive,”’ said Nick Del Deo, senior analyst at U.S. research firm MoffettNathanson.Tens of thousands of European masts are expected to see ownership changes in the next two years as companies such as Iliad SA, Vodafone Group Plc and Telecom Italia SpA bring in new investors to reduce debt and share the heavy cost of rolling out 5G technology.But only a quarter are likely to end up with independent operators, according to TowerXchange. Vodafone and CK Hutchison Holdings Ltd. are creating separate units for almost 90,000 towers and the consultancy expects them to maintain control over those businesses. That’s a turn-off for independent companies, which try to maximize revenue by leasing mast space to as many network operators as possible.Many European carriers want to keep some hold on their towers because they see mobile infrastructure as a strategic asset that can help them manage costs and perhaps gain a competitive edge. They’re also mindful of what happened in the U.S., where operators rushed to sell their towers more than a decade ago only to find themselves stuck with a big bill for leases and capacity rights.Vodafone Surges on Possible IPO, Stake Sale of Towers UnitVodafone and Telefonica Ink 5G Terms in Move to U.K. Tower SalesNiel Agrees to $3 Billion of Phone Tower Sales to CellnexCK Hutchison to Separate Out European Phone Towers BusinessSelling full ownership of towers to independent players can spur innovation and reduce expenses by encouraging carriers to share infrastructure, avoiding costly duplication. European carriers’ insistence on maintaining control means the continent’s progress in rolling out 5G will likely continue to be slower compared to the U.S., where towers are largely in independent hands.“There is a risk that the European carriers go too far the other way,” Del Deo said. “The captive tower model, if you look globally, has never proven to be that effective.”For now, American Tower is mostly relying on building towers in Africa, Latin America and India for its international growth.Crown Castle didn’t respond to a request for comment on its future European asset bidding plans. American Tower declined to comment. Its chief executive officer, James Taiclet, told analysts last month that recent large European tower sales didn’t meet its bar for growth prospects and asset costs.Here are some other reasons why U.S. tower firms aren’t piling into Europe:Redundancy: Europe has more cases of towers operated by rival carriers sitting in close proximity. An independent owner may want to remove one to cut costs, but the tower often comes with a ground lease that they must keep paying for years.Less Potential: Europe has lots of rooftop antenna sites, which can’t accommodate as many customers as can a ground-based tower. Many European portfolios include broadcast towers in rural areas that may not be as valuable as mobile towers.Radio Emission Rules: In some countries, rules on maximum electromagnetic radio emissions limit the number of antennas a tower firm can install at a single site.\--With assistance from Scott Moritz.To contact the reporter on this story: Thomas Pfeiffer in London at email@example.comTo contact the editors responsible for this story: Kenneth Wong at firstname.lastname@example.org, Jennifer Ryan, Anthony PalazzoFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Companies such as Epicor that generate recurring revenue through business software sales have been popular targets for the private equity industry. The sources said that Epicor will likely attract interest from other buyout firms. KKR is working with an investment bank on an auction for Epicor, the sources said, cautioning that no deal is certain and requesting anonymity because the matter is confidential.
Favorable markets and conversions into C-corps, which kick-started post the 2017 tax overhaul, are providing a boost to shares of private equity firms.