KKR to Apollo Vie for Spain Lending Left by Banks: Euro Credit

KKR & Co. and Apollo Global Management LLC are vying for a slice of Spain’s 1.5 trillion-euro ($2 trillion) lending market, as private equity firms snap up customers the nation’s banks deem too risky a bet.

“The banks are becoming a lot choosier about who they lend to,” Mubashir Mukadam, the London-based head of European special situations at KKR, said in a telephone interview. “We’re clearly looking at a number of opportunities for more deals.”