European Loan Programme in $395.3 mln loan for KKR’s theTrainline buy

The European Loan Programme has provided a 265 million pound (US$395.3 mln) loan to fund KKR’s buy of theTrainline.  London-based theTrainline is an online platform to sell rail tickets to consumers. The European Loan Programme is a joint venture between Ares Management and GE Capital.  The ELP provides senior debt financing to upper middle market European companies.

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Ares Management taps KKR’s McFerran as EVP, CFO and treasurer

Ares Management LP has hired Michael R. McFerran as executive vice president, chief financial officer and treasurer. The appointment becomes effective March 23, 2015. Prior to joining Ares, McFerran was a managing director at Kohlberg Kravis Roberts & Co. LP where he worked as the CFO of KKR’s credit business and was the COO and CFO of KKR Financial Holdings LLC.

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peHUB First Read

First Read starts your week with news of Holcim’s board rejecting Lafarge merger terms, KKR, Varde and Deutsche acquire GE Capital’s consumer finance unit for $6.3 billion and Russia’s Vladmir Putin finally makes an appearance.

GE’s to sell Australia, NZ consumer finance unit for $6.26 bln

Värde Partners, KKR and Deutsche Bank have agreed to buy GE Capital’s Australia and New Zealand consumer lending business for A$8.2 billion (US$6.26 bln). The unit, A partner to many retailers in Australia and New Zealand, provides personal loans, credit cards and interest free retail finance. It has more than 3 million customers. Credit Suisse and Morgan Stanley provided advice to GE, while Bank of America Merrill Lynch, Moelis & Company and Citi advised the consortium.

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peHUB Second Opinion

In Second Opinion, stocks drop sharply on fears the Fed may soon raise interest rates, KKR is in advanced talks to acquire Air Medical for around $2 billion and Hillary Clinton defends her use of private-email, saying she thought it would be easier on one device.

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peHUB Second Opinion

In Second Opinion, the U.S. economy added 295,000 jobs in February but wages still lag, two former Merrill Lynch trainees sue for overtime pay and Apple knocks AT&T out of the Dow.

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KKR in talks to settle SEC probe of expense sharing

Kohlberg Kravis Roberts is in discussions with the Securities and Exchange Commission to settle an inquiry about how the firm has allocated expenses between funds and co-investors, according to the firm’s annual report and a recent letter to limited partners.

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KKR closes buy of Pioneer DJ

KKR & Co. LLP has completed its previously announced acquisition of an 85.05 percent stake in Pioneer Corp‘s DJ equipment business. No financial terms were disclosed; however, an earlier peHUB report tagged the value at $551 million.

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KKR to own 85.05% of PDJ Holdings

Pioneer Corp. said Monday it completed a share repurchase agreement where KKR will own 85.05 percent of PDJ Holdings Co Ltd., the holding company for Pioneer DJ. Pioneer Corp. will have 14.95 percent. Financial terms weren’t announced. Pioneer DJ, of Kawasaki, Japan, develops and markets equipment for DJs, including CD players, mixers, controllers, headphones and speakers.

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