HD Hyundai Marine US$1.18bn Lockup Expiry - KKR Might Be Tempted to Book Gains

KKR is selling around 4% of HD Hyundai Marine's stock to raise US$160m. The selldown comes right after the PE comes out of its six-month IPO lockup. The deal will represent 12 days of the stock's three month ADV, and KKR will own around 20% of shares outstanding post-selldown. The bookrunners are JPM and UBS, and KKR will be locked up for 90 days post-selldown.