Top US buyout firm Kohlberg Kravis Roberts has made its boldest move yet to go head-to-head with rivals Carlyle and The Blackstone Group, signalling an expansion that would follow raising $500m (€394m) on the New York Stock Exchange.

The firm said in a statement yesterday it would look to raise the funds as part of its long-planned listing in New York. The announcement sees it continue on its expansion plans into other business lines beyond the private equity investments for which it is best known, pursuing a route already taken by its larger US rival Blackstone Group. The firm is expected to raise the funds over the summer, one private equity source said.