NEW YORK: Kekst & Company is handling IPO communications for the private equity firm Kohlberg Kravis Roberts & Co. (KKR), a long time client of the firm.
Kekst partner Jeffrey Taufield confirmed that the agency is working with KKR on its recently announced IPO, which is currently slated to happen during the third or fourth quarter of this year. He declined to discuss KKR's strategy for communications.
The IPO filing is the second major recent public offering from a PE firm. Last month, KKR rival Blackstone Group held an IPO for more than $4 billion. By contrast, KKR's is expected to raise $1.25 billion.
One important task for communicators working on the offering will be to convince potential investors that the PE industry has not peaked. Blackstone's share price fell below its offering price shortly after the IPO was held. Many financial observers believe that the blue-chip PE firms are now offering shares to the public in order to secure their value at the high point of the market.