Kroll Bond Rating Agency Announces Recapitalization and New Partnership

From KBRA’s press announcement: Kroll Bond Rating Agency (KBRA) is pleased to announce a new company partnership between the KBRA management team, the Kroll family and a current shareholder and investor, Wharf Street, LLC. The new partnership is effective immediately.

This new alliance provides permanent capital for KBRA to continue to grow as a market leader and trusted rating agency. The additional capital will allow KBRA to develop other sectors beyond its pioneering work in the Structured Finance, Public Finance and Financial Institution areas.  Most notably the firm looks to continue to accelerate its growth within the Corporate Finance markets as well as expand internationally.

Jules Kroll, CEO of Kroll Bond Rating Agency, commented “Since KBRA’s launch 5 years ago in August of 2010 the firm has grown significantly, publishing over 600 ratings with over $400 billion of issuance. This recapitalization of the business will allow the firm to continue to grow as a global rating agency.”

“KBRA, which is known for its thorough research and due diligence will continue to expand these efforts along with providing the transparency, innovation and responsiveness that investors have come to rely on,” added Jim Nadler, President and COO.

More about the partnership at The Wall Street Journal:

“Kroll Bond Rating Agency, the firm started five years ago by corporate investigator Jules Kroll, is now majority owned by private-equity firm Wharf Street LLC, as part of a deal struck Monday, according to a Kroll spokeswoman.

Wharf Street valued Kroll at more than $300 million and now owns around 90% of the nascent ratings company, after buying out early investors and much of Mr. Kroll’s stake. The 74-year-old Mr. Kroll, who had been the firm’s largest shareholder, will stay on as CEO.”

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