Brendan McDermid | ReutersPrivate equity firms should be motivated to hunt for deals despite the challenging interest rate environment as the potential purchase price tends to be more in their favor, according to KKR's Global Co-Head of Private Equity Pete Stavros. "This is a great time to do deals," Stavros said in an interview with CNBC's Leslie Picker for the Delivering Alpha newsletter. Zoom In Icon Arrows pointing outwardsPrivate equity fundraising has slowed down drastically after a series of aggressive interest rate hikes made borrowing costs skyrocket. Globally, private equity funds raised $444.65 billion in the first half, down 20.5% year over year from, according to S&P Global Market Intelligence. "When the public markets are more volatile and when credit markets are tighter, better return deals are done.

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Persons: Brendan McDermid, Private Equity Pete Stavros, Stavros, CNBC's Leslie Picker Organizations: KKR, New York Stock Exchange, Reuters, KKR's Global, Private Equity, Delivering Alpha, P Global Market Intelligence