Kinder Morgan’s bumper IPO takes the lead in impressive equity market deals
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Kinder Morgan’s bumper IPO takes the lead in impressive equity market deals

Goldman Sachs and Barclays Capital’s unique Kinder Morgan IPO wins a Euromoney Deals of the Year 2011 award

The fate of another benchmark IPO last year could not have been more different: by the end of 2011, Kinder Morgan’s $3.3 billion IPO – which was launched in February – was the only top-10 global IPO that was trading above its issue price. The deal was the largest in the energy sector since 1998 and is one of the top-five private-equity-backed IPOs ever.

Its sheer size in one of the most volatile years in the equity markets is impressive – particularly as it was led only by Goldman Sachs as left lead and Barclays Capital. But it is the structure that makes it unique.

Paul Bjorneby, managing director in ECM at Barclays Capital, says: 

"We leveraged both our traditional MLP institutional investor base and also all of the major yield- and income-oriented mutual funds and money managers. The pitch was how it was a tremendous management team and company, rich in assets, and that the deal is in the investor-friendly structure of a C-Corp." 

For full details and the story behind this deal, click here

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