KKR Hires Goldman Traders

The nine traders will be based in New York.
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NEW YORK (

TheStreet

) --

KKR

(KKR) - Get Report

has hired nine traders from

Goldman Sachs

(GS) - Get Report

,

CNBC

reported Thursday.

"This is part of a strategic build out of our asset management platform. Our goal has been to add new capabilities and exceptional talent that allow us to strengthen our product offering and better service our clients.

This team will be an ideal fit for that objective as we've been impressed with their investment experience and performance as well as their ability to manage risk," KKR said in a statement.

The traders will led by Bob Howard and based in New York, starting in January, the report said.

Bloomberg

report in September said the group is part of a Goldman unit called "principal strategies," which traded with the firm's capital. New legislation known as Dodd Frank attempts to limit the abilities of banks to take such bets.

The

Bloomberg

report identified KKR as one of three firms, including

Avenue Capital

and

Perella Weinberg

, that had been trying to hire the group.

--

Written by Dan Freed in New York

.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.