KKR's Eye on the IPO Prize

True, the IPO track record of alternative asset firms has been underwhelming, as seen with the offerings of Blackstone (NYSE: BX) and Fortress Investment Group (NYSE: FIG).  Of course, the credit crunch is making it nearly impossible to finance mega deals.

But, such things aren’t a problem for KKR.  After all, the venerable private equity firm has filed an amendment to its IPO filing.

In fact, for the first half of 2007, profits increased about 26% to $667.4 million. 

That’s fine.  But, of course, the key concern is Q3.

What’s more, in light of the upcoming holidays, the KKR offering isn’t likely to hit the markets until Q1 of next year.