KKR, Allegro pick up Australasian loan portfolio from BOS

European banks were once active participants in the Australia and New Zealand syndicated lending markets, but they have scaled back in response to the uncertain global macroeconomic environment. BOS closed its Australia leveraged lending desk last year while Natixis shuttered its entire Asian operation and Credit Agricole is a shadow of its former self.

"As banks are deleveraging around the world, we continue to see opportunities to acquire some of their non-core portfolios," said Jamie Weinstein, global co-head of special situations at KKR. "Our goal is to provide a solution that represents an opportunity to deliver risk-adjusted returns for our investors."

KKR has been investing in credit since 2004 and has approximately $16.5 billion in assets under management.

Allegro manages more than $300 million in committed capital from Australian superannuation funds and team members. It recently completed the management buyout of Australian industrial services group Hastie Services, months after parent company Lazard-backed Hastie Group went into administration.

The buyout, realized alongside Hastie Services CEO, Roger Jowett, sees the mid-market investor pick up all three Hastie Services group companies: Hastie Services and Spectrum Fire & Security in Australia - each of which had receivers and managers appointed to them back in May - and Cowley Services in New Zealand.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Financing
• Financials
• Australasia
• Structured finance
• KKR
• Australia
• New Zealand