KKR buys Avoca, supplying capital needed for CLOs

Private equity firm KKR is set to expand its presence in the European credit market by buying Avoca Capital, a credit investment manager based in Ireland, in the hope of picking up corporate clients left by banks less willing to lend.

  • By Olivier Holmey
  • 25 Oct 2013

The takeover is likely to facilitate future issuance of collateralised loan obligations (CLOs) by Avoca.

The takeover will merge the two teams into a “combined European credit business” with about 80 employees and $11bn of European credit assets, ranging from senior loans to mezzanine and convertible bonds, KKR said ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%