KKR said to seek B-D license

Looking toward an initial public offering, Kohlberg Kravis Roberts is seeking a securities broker-dealer license, TheDeal.com said.
JUN 26, 2007
By  Bloomberg
Looking toward an initial public offering, Kohlberg Kravis Roberts is seeking a securities broker-dealer license, TheDeal.com said. Private equity rival Blackstone Group jumped into the public pool for the first time last Friday and raised $4.13 billion. However, Blackstone has held a broker-dealer license for a long time, a requirement for firms that handle securities sales, including mergers and acquisitions. Should KKR receive such a license from NASD, it could open diverse business possibilities, such as a restructuring advisory division or an M&A advisory unit, an unnamed private equity executive told TheDeal.com. A license would also help the firm put its equity syndication activities, such as equity bridges, on firm legal footing. These bridges bring banks together to help finance large deals with equity, but since the transactions involve private placements of securities, they could fall under NASD’s oversight, a buyout executive said to TheDeal.com. A NASD officer told TheDeal.com that KKR has not received a broker-dealer license and had no way of knowing whether the firm had formally applied for one. A KKR spokeswoman declined comment on the matter.

Latest News

Advisor moves: LPL welcomes $750M Osaic team, Raymond James recruits Wells Fargo duo in New York
Advisor moves: LPL welcomes $750M Osaic team, Raymond James recruits Wells Fargo duo in New York

Elsewhere in Utah, Raymond James also welcomed another experienced advisor from D.A. Davidson.

UBS loses arbitration battle in fiduciary fight over foundation funds
UBS loses arbitration battle in fiduciary fight over foundation funds

A federal appeals court says UBS can’t force arbitration in a trustee lawsuit over alleged fiduciary breaches involving millions in charitable assets.

RIA moves: NorthRock adds $800M Parkside Advisors, NFP acquires Levine Group in Tennessee
RIA moves: NorthRock adds $800M Parkside Advisors, NFP acquires Levine Group in Tennessee

NorthRock Partners' second deal of 2025 expands its Bay Area presence with a planning practice for tech professionals, entrepreneurs, and business owners.

Three easy ways to boost your firm’s impact this summer
Three easy ways to boost your firm’s impact this summer

Rather than big projects and ambitious revamps, a few small but consequential tweaks could make all the difference while still leaving time for well-deserved days off.

Hightower taps Osaic alum Scott Hadley as first chief advisory officer, expands C-suite
Hightower taps Osaic alum Scott Hadley as first chief advisory officer, expands C-suite

Hadley, whose time at Goldman included working with newly appointed CEO Larry Restieri, will lead the firm's efforts at advisor engagement, growth initiatives, and practice management support.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.