KKR Credit Launches a Platform to Support Italian Companies Back to Press Releases

KKR Credit Launches a Platform to Support Italian Companies

June 25, 2015

BINDING AGREEMENT WITH INTESA SANPAOLO AND UNICREDIT SIGNED

The Italian platform is 100% privately funded with capital and expertise committed to Italian companies

The Italian platform will be led by Andrea Giovanelli

MILAN–(BUSINESS WIRE)– KKR Credit, part of KKR & Co. L.P. a leading global investment firm, announced today jointly with Intesa Sanpaolo and UniCredit the launch of a platform that aims to provide long-term capital and operational expertise to Italian companies, thereby supporting Italian banks in managing assets.

The platform is intended to help Italian companies stabilise, grow and create value for the benefit of all stakeholders, including the companies’ existing shareholders and the banks who will share in the upside of the recovery in performance of the businesses and the value of the related assets on their balance sheet.

The announcement follows an agreement reached with Intesa Sanpaolo and UniCredit on 25 June 2015 to transfer the banks’ exposures to a portfolio of assets selected by the banks and KKR Credit of initially up to 1 billion euros to a vehicle managed by the Italian platform, subject to completion of certain conditions precedent. Intesa Sanpaolo and UniCredit are the first banks to join this initiative. The platform is open to other lenders and companies who would benefit from fresh capital and additional operational support.

Johannes P. Huth, Head of KKR Europe, Africa and Middle East, said: “This is the first large scale initiative of this kind in Italy and in Europe and the first operation established by the pan-European platform launched by KKR Credit. The platform is fully privately funded and we look forward to the opportunity to make long-term capital and industrial expertise available to Italian companies”.

The platform is a continuation of KKR’s investment commitment to Europe and will be funded by investments from certain funds managed or advised by KKR or its affiliates. Since 1996, KKR has invested in more than 100 companies across industrial sectors in Europe representing approximately $25 billion in invested long-term capital.

Mubashir Mukadam, KKR’s European head of Special Situations, said: “We are excited to have Andrea Giovanelli as the CEO of the Italian platform. Andrea and his experienced team will be based in Milan and bring strong backgrounds in the Italian industrial, turnaround, and financial sectors. The team will aim to invest new long-term capital into the businesses, while calling on KKR’s global resources and expertise in turning around companies”.

Andrea Giovanelli said: “I am proud to be leading the Italian platform and to be contributing to the successful recovery of Italian companies. Our platform offers Italian companies the new financial resources and managerial support to enable them to deliver on their potential for the benefit of all stakeholders, including the banks contributing assets to the scheme. It is time to unblock the credit channel to the benefit of Italian companies and banks. We are already considering a number of other situations in the context of the partnership with Intesa Sanpaolo and UniCredit and beyond.”

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com.

Community – Strategic Communications Advisers
Ph. + 39 02 89 40 42 31
or
Pasquo Cicchini
Mobile: + 39 345 1462429
email: pasquo.cicchini@communitygroup.it
or
Lea Platero
Mobile: +39 335 7357146
email: lea.platero@communitygroup.it

Source: KKR Credit


Download PDF

Back to Press Releases

Media Contacts

Americas

Kristi Huller
Miles Radcliffe-Trenner
Julia Kosygina
Telephone: +1 (212) 750-8300

Email: media@kkr.com

EMEA

Annabel Arthur
Telephone: +44 20 7839 9800

Email: kkrpr-uk@kkr.com

Asia-Pacific

Anita Davis
Wei Jun Ong
Telephone: +852 3602 7335

Email: media@kkr.com

Investor Relations

‍Craig Larson
Telephone: +1 (877) 610-4910
Outside US: +1 (212) 230-9410
Facsimile: +1 (212) 750-0003
Email: Investor-Relations@kkr.com

×

Listen to webcast

This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date they are made. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility.

Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov.

I understand  |   Go back
×

Listen to Presentation

Before viewing this presentation, please acknowledge your understanding that it has been prepared for KKR & Co. Inc. (NYSE:KKR) for the benefit of its public stockholders and is not intended to be a solicitation or sale of any of the securities, funds or services that it may discuss. Please click on "I understand" to view the presentation.

I understand  |   Go back