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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