Avoca purchase seen as a positive

KKR’s acquisition of Dublin-based investment firm Avoca Capital is seen as a positive and will not affect its ‘highest standards’ asset manager rating, according to the ratings agency Fitch.

It was announced earlier this month that the US private equity giant KKR was taking over Avoca for an undisclosed fee.

“Fitch sees synergies between Avoca and KKR,” it said. “Specifically, Avoca complements KKR’s business in Europe, which is largely focused on origination; however, there may be potential conflicts of interest between the origination and asset management sides of the business.”