LONDON (Reuters) – Private equity firm Kohlberg Kravis Roberts & Co. is preparing up to six companies for initial public offerings (IPOs) in the next year, the Financial Times reported in its Saturday edition.
The newspaper quoted a person familiar with KKR as saying the companies it was preparing to float included toy retailer Toys R Us TOY.UL, hospital group HCA, credit card processor First Data, Danish telecoms group TDC and discount retailer Dollar General.
The report cited a person familiar with KKR’s plans as saying there were five to six companies in the portfolio that could be taken public in the next 12 months.
The recession hit the valuations of private equity firms’ portfolios, their ability to raise money from the large pension funds that invest in their funds, and their ability to do leveraged deals.
The IPO market almost dried up, but there are signs that it may be picking up.
KKR has investments in 50 companies with a combined $200 billion of revenue.
The Wall Street Journal reported earlier this week that KKR was in the advanced planning stage for an initial public offering of stock in Dollar General Corp.
KKR-backed Avago Technologies Ltd, a Singapore developer of semiconductor devices, has filed for an IPO.
In June, KKR and Boston mutual fund Fidelity Investments struck a deal to sell shares of KKR initial public offerings to retail customers.
Also last month, KKR announced plans to merge into its Amsterdam-listed fund, a roundabout way of gaining a European listing, while holding the door open for a possible move to the New York Stock Exchange.
(Reporting by Adrian Croft)