Street Talk

Write us a loan, we’ll write you a mandate: Pepper shakes down banks

Sarah Thompson and Anthony Macdonald

Sep 15, 2019 – 9.03pm

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It’s hard to get one up on the big investment banks – but if there is anyone that should know how to play the game and be able to ride roughshod, it is global investment bigwig KKR.

So perhaps we shouldn’t be surprised to hear KKR Credit, its portfolio company Pepper Group and advisers want to see investment banks sweat before dishing out lead manager mandates to float the non-bank lender.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com