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.