One overlooked sector I've been keeping track of – and have been wildly bullish on – for years now is senior housing, so I was hardly surprised to hear about its biggest merger news in years this week…
I'm talking about behemoth KKR & Co. buying Envision Healthcare for $5.7 billion in cash, with the total deal value adding up to $9.9 billion including debt.
This marks one of the largest leveraged buyouts of 2018.
Again, this isn't a shock to those of us who pay attention to what the smart money crowd is doing with its funds. Despite the bad rep firms like KKR sometimes get, their activity can often point to the direction of profits.