London IPO Hopeful NewDay Is Said to Attract Bain, Pimco, KKR

London IPO Hopeful NewDay Is Said to Attract Bain, Pimco, KKR

NewDay, the British consumer credit provider owned by Cinven and CVC Capital Partners Plc, has attracted interest from alternative asset managers including Pacific Investment Management Co. and KKR & Co., according to people familiar with the matter.

PE giants circle UK lender NewDay as buyout interest builds

Private equity firms are eyeing a potential carve-out or full acquisition of UK-based consumer credit provider NewDay Group, with bids reportedly being prepared by a Bain Capital-led consortium, as well as global investment heavyweights KKR and Pimco, according to a report by Sky News. The firm – which is currently owned by private equity backers Cinven and CVC Capital Partners – is understood to be valued at around £1.7bn ($2.26bn), making it o…