|Private equity firm KKR & Co. is in the process of hiring nine proprietary Goldman Sachs traders to run a new stock-focused investment unit. According to Bloomberg, Bob Howard, the head of the renowned Goldman U.S. principal-strategies team, is to join KKR as managing director, and new team will join KKR at its New York office in January of next year. Goldman closed down the group to comply with new financial regulations that prevents banks from betting for their own accounts.|
KKR’s asset management division currently focuses on credit investments, but with these hires, the firm may begin to make forays into investments in liquid equities, including hedge funds. The division currently manages $13 billion and is led by William Sonneborn.