MonkeyBusinessBlog: Private Equity

From the Financial Times today is KKR Reveals Dutch IPO Terms

To Henry Kravis and George Roberts, KKR’s co-founders, the listing is a key step for the firm they founded in 1976, which shot to fame 20 years ago with the $30bn takeover of RJR Nabisco.

The listing takes Mr Kravis closer to matching his rival Stephen Schwarzman, co-founder of competitor Blackstone, which floated in New York in 2007. KKR initially intended to follow suit, but last year changed this for a plan simultaneously to merge with KPE and list in New York, before the stock market slump forced it to opt for a more modest Amsterdam listing.

It pains me to see Henry Kravis having to chase Schwarzman for so long. It really does. I wrote Henry this song awhile back when Private Equity was all the rage. I will take this opportunity to print it again as I hope it will give Henry that extra "kick" he needs to catch Schwarzman! To the tune of The Rolling Stones, "Tumbling Dice".

Pensions think I'm tasty, BlackStone replicates me
Makes me tear my sky-home right down
But baby, baby, I’m still THE swinging dick in town.

All you wealth funds are low down gamblers,
Spending like I don't know how,
But baby, baby, there's fever for my IPO right NOW.
So quit your low down bitchin', Don’t care if your feet are itchin',
Don't you know my equity bridge is still wild.

Baby, I can't stay, you got to roll, roll, roll me
And call me the tumblin' dice.

Always in a hurry, I never stop to worry,

Liquidity is an endless supply.
Honey, I got your money,
And I've locked it up till two-thousand and twenty-nine.
Say now baby, I'm the rank insider,
You all can be my partners in crime.

But baby, If you can't pay,
You got to roll roll roll me and call me the tumblin' dice,

Oh, my, my, my, I'm king corporate looter,
Stealing your company is my right. But baby, I can't stay,
You got to roll, roll, roll me and call me the tumblin' dice, (Call me the tumblin')
Got to roll me (yes), Got to roll me, Got to roll me (Oh yeah)
Got to roll me
Got to roll me (yeah)
Got to roll me (Keep on rolling)
Got to roll me (Keep on rolling)
Got to roll me (Keep on rolling)
Got to roll me
My baby, call me the tumblin' dice, yeah