What to make of private equity fund raising?

The problem for some premiere buyout funds: too much money. To some, it sounds like a good problem to have. But the issues are real. Consider Kohlberg Kravis Roberts. The Financial Times reports it has invested upwards of 60 percent of its new $17.5 billion fund, which it only finished raising at the end of last year. That's impressive in this environment. But the investments have taken a turn toward smaller deals in emerging markets and minority stakes. The paper also reports that KKR may have delayed the start of fund raising for its next fund. At some point, you'll have only so many investment options. So it's better to slow down. It's possible that a fund will return investors' money, arguing that there just aren't enough opportunities out there.  

For more:
- here's the Financial Times article

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