WHEN KKR Private Equity Investors raised $5 billion in Amsterdam for a publicly traded buyout fund, inspired fee-seeking competitors lined up to follow suit.
When the markets started melting soon after the May offering, most of those competitors moved to the sidelines, waiting eagerly for the moment they could re-enter the market and secure the holy grail of money management: permanent capital  that is, money that investors cannot demand back.
When that window opens, private equity funds will not be alone. Hedge funds are also eager to soak up money from the market, and are gazing overseas to Amsterdam and London for new ways to take their funds public, according to half a dozen people involved in such negotiations.
