anchor: The death of LBO fervor, which in practical terms meant the death of banks' willingness to lend freely to almost anyone, forced KKR to refocus its business around the strongest deals possible.
positive: The KKR was forced to refocus their business deals due to the bank's unwillingness to lend money easily.
negative: The LBO's easy loan program drive KKR's business to skyrocket steadily as forecasted.