A deafening silence filled the conference room at KKR India’s Mumbai office when the question was raised. The senior management, which included Henry Kravis and George Roberts, the firm’s co-founders, were visibly upset about its lending business in India. In 2018, KKR India Financial Services (KIFS), the wholesale lending arm, was in a state of disarray.
How KKR India reached a debt end
The marquee private equity firm’s strategy of lending to growth companies and risky turnarounds has backfired badly, denting its reputation as a savvy financier
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