The buyout firm led by Henry Kravis is leading a $1.6 bln takeover of chemicals maker LCY. Taiwan has been a tough market for private equity, including KKR. Slow growth and tensions with China add concerns. As dry powder in the region grows, the risk calculus may be changing.
Sales of new collateralised loan obligations are taking off in Europe for the first time since the financial crisis. These packages of high-yield debt were a major culprit behind the last credit bubble. But this time round, lower leverage has made CLOs safer. They even have a useful role to play in refinancing.