There's been lots of buzz that the upcoming Kolberg Kravis Roberts & Co. (KKR) IPO is dead. In fact, a recent report from the Times of London indicated that the offering has been postponed.
Well, maybe not. That is, KKR has indicated that the rumor is not true.
I have to admire the optimism of KKR (hey, it's probably been a key the firm's success).
No doubt, it's been crummy for private equity. There's a credit crunch. And, of course, the stock prices of The Blackstone Group L.P. (NYSE: BX) and The Fortress Investment Group (NYSE: FIG) have been miserable. It even looks like Carlyle is going to forgo an IPO for 2007.
But, private equity is about the long-term. And, it's in bad markets where the opportunities seem to pop up (especially for those firms that are well capitalized).
What's more, a key test will be KKR's upcoming financing of the mega buyout of First Data Corporation (NYSE: FDC). If the deal can get done, there may be some hope for the KKR offering.
Also, if you want to check out other IPOs planning to hit the markets, click here.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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