KKR causes friction by raising profile of capital-market unit

08/11/2009 | Financial Times (tiered subscription model)

When Kohlberg Kravis Roberts established its capital-market division two years ago, the private-equity group said the unit would complement the work of Wall Street banks it had used for advisory services. Bank executives, however, said KKR Capital Markets is increasingly viewed as a competitor. Semiconductor company Avago Technologies' recent initial public offering, on which KKR Capital Markets worked, is seen as one example.

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