A number of private credit firms including Blackstone have held talks with KKR & Co over providing a debt package of at least $525m to support the buyout firm’s bid to acquire Perpetual’s corporate trust and wealth management units, according to a report by Bloomberg.
The report cites unnamed people familiar with the matter in revealing that the discussion have focused on possible funding channels including a private credit loan, with KKR planning to raise separate financing for each of the businesses.
On Monday, Australian-based wealth manager Perpetual confirmed it had entered into exclusive discussions with KKR for the sale, five months after announcing a review of the two units aimed at unlocking value for shareholders.
Swedish private equity firm EQT had earlier expressed interest in striking a deal with Perpetual, according to reports, while in December, the business also rejected a AUD3.5bn bid from Australian investment firm Washington H Soul Pattinson & Co.
