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KKR Pauses for Breath After $60 Billion Pandemic Deal Binge

  • ‘Constant exhaustion’ is major challenge for buyout industry
  • Deal wave prompts introspection by KKR’s new leaders in Europe
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A relentless global deal binge totaling nearly $60 billion has KKR & Co.’s leadership taking stock -- and a breather.

When the pandemic hit, shortly after Philipp Freise and Mattia Caprioli took over new roles in Europe, the buyout house started deploying as much capital as possible while most rivals held back. More than a third of the total was spent in Europe, and KKR started working on a new fund dedicated to the region just a year after closing the last one.