Private equity fees boomed to pre-recession levels in 2011

BANKS reaped more in private equity fees last year than at any point since 2007, Dealogic figures revealed yesterday.

The most lucrative client was Kohlberg Kravis Roberts, which paid $587m (£379m) of the $12.4bn paid globally – up 14 per cent from the $10.8bn paid in 2010, and accounting for 18 per cent of total investment bank revenues. KKR had been the sixth largest fee-payer in 2010.

Mergers and acquisitions accounted for $3.1bn of revenues – the highest level since 2007 and up nine per cent on those seen in 2010.

Bain Capital Partners came a close second to KKR, generating bank revenues of $540m, while 2010’s biggest fee-payer the Carlyle Group dropped to third place with $536m.

JP Morgan was the biggest recipient of revenues, taking $1.15bn or 9.3 per cent of the market, with Bank of America Merrill Lynch in second place with $1.03bn, or 8.3 per cent.

Goldman Sachs slipped from its top spot in 2010 to third place, taking home $1.01bn, or 8.2 per cent, in 2011.