Kohlberg Kravis Roberts on Monday said it had hired William Sonneborn to further develop its asset management business, in a move that The Financial Times speculated may be an effort to diversify ahead of a possible initial public offering.
The Financial Times noted that the fees that assets under management generate could be more attractive to public investors, as they tend to be more predictable that business of buying and selling companies. Whatever the reason, K.K.R.'s public offering appears to be on hold for the time being.
Watch Lewis Black's "rant" against K.K.R. from earlier this year