KKR, Carlyle Lead Best Start of Year for Buyout-Backed IPOs

KKR & Co. and Carlyle Group are leading the best start for private equity-backed initial public offerings since at least 2006 as a recovery in credit markets lures investors to companies taken private in leveraged buyouts.

LBO firms raised about $19.5 billion from IPOs in the three months through March, more than half of the total they amassed last year, according to data compiled by Bloomberg and Preqin Ltd. HCA Holdings Inc., Kinder Morgan Inc. and Nielsen Holdings NV raised a combined $8.3 billion and accounted for three of the four biggest initial offerings in the period.