Apr 28, 2022
KKR Hires From Barclays, UBS for Equity Capital Markets Push
, Bloomberg News
(Bloomberg) -- KKR & Co. hired a pair of bankers from Barclays Plc and UBS Group AG as part of an effort to further expand its equity capital markets platform, which raised $20 billion in equity proceeds last year.
Andrew Kolmar, most recently a Barclays managing director, and Hannah Malter, who resigned last month as UBS’s head of equity capital markets syndicate in the Asia-Pacific region and a managing director, will join the New York-based alternative-asset manager this summer.
“The public markets are critical to us and having equity capital markets capabilities in-house enables us to be especially thoughtful in how we interact with them every day,” Adam Smith, head of KKR Capital Markets, said in an emailed statement. “This benefits not only our investors and portfolio companies but also our corporate clients, which represent a growing area of opportunity for our business.”
Malter, based in Hong Kong, will have the task of building out KKR’s ECM capabilities in the Asia-Pacific region, while Kolmar, based in New York, will work alongside the firm’s ECM head, David Bauer, and managing director Lauren Hahn. Kolmar will assist with efforts to originate transactions in the U.S., particularly with corporate clients unaffiliated with KKR.
KKR says it has issued more equity in the public markets over the past decade than any other private equity firm. In 2021, it worked on initial public offerings and follow-ons for portfolio companies including AppLovin Corp., Academy Sports & Outdoors Inc. and PHC Holdings Corp., according to data compiled by Bloomberg.
The firm’s ECM group also worked on transactions for companies in which it has no ownership, such as the initial public offering for EverCommerce Inc., backed by Silver Lake and Providence Equity Partners, and a follow-on for Bain Capital LP-backed Surgery Partners Inc.
KKR peers including Apollo Global Management Inc. and Blackstone Inc. have also built ECM platforms, which can decrease the fees paid to Wall Street banks and give the firms more control over how deals are executed.
©2022 Bloomberg L.P.
