KKR kicks tires, buys Alliance
India is expected to see an increasing number of secondary buyouts in the next couple of years as GPs look for ways to monetize existing portfolios in the face of a difficult public market environment. While KKR's acquisition of Warburg Pincus' majority stake in Alliance Tire Group (ATG) conforms to the trend, Heramb R. Hajarnavis, a director at KKR, is keen to emphasize that this is no normal Indian company.
"You are likely going to see a lot more secondary deals in India arising from investments that took place between 2006 and 2008. We see ATG as fairly unique. At the time of the original investment this...
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