Private equity looking at Babcock & BrownJune 23, 2008...

Private equity looking at Babcock & Brown
June 23, 2008 10:45am

BABCOCK & Brown (B&B) is in the sights of US private equity firm Kohlberg Kravis Roberts, according to a British newspaper report.

The UK's Independent on Sunday said KKR had contacted sector specialists to find out more about the troubled investment house.

It was rumoured that HSBC had done the same, the report said.

Quoting an unnamed industry source, the report said that KKR was interested in B&B because it needed to find assets for a global infrastructure fund, announced last month.

A B&B spokesperson declined to comment on the KKR or HSBC rumours.

The spokesperson also declined to comment on the theory that it would be difficult for private equity to acquire B&B because staff own 43 per cent of the company.

Daily Telegraph