On June 26 KKR launched a platform that, though intended to
support banks' exposures to under-performing assets, could have
a far more profound effect on European lending.
The platform, which was initially mooted in April last year,
is currently only being applied to two Italian banks, UniCredit
and Intesa Sanpaulo. But it could be rolled out to other
institutions in the country, and ultimately, throughout Europe.
The premise is simple: banks cede control of their
underperforming assets to KKR. These can be loans, equity or