Transformers in the buyout industry

When KKR won the mandate to act as an underwriter on a bond for Manchester United, it highlighted the transition of firms from a pure-play to a diversified business model, and the trend has continued this year

While the expansion of private equity firms beyond their initial remit has been a long and gradual evolution, it has taken a spate of high-profile developments to bring the changes to the attention of the wider investment community.

KKR's role as an underwriter, alongside several banks, on Manchester United Football Club's high-yield bond issue in January last year was such an example.

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How Trump Got His ‘Big, Beautiful Bill’ Across the Finish LineExternal link

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