KKR to launch IPO
Kohlberg Kravis Roberts & Co. LP, the 32-year-old private equity firm, intends to list its company on the NYSE.
Kohlberg Kravis Roberts & Co. LP, the 32-year-old private equity firm, intends to list its company on the New York Stock Exchange, the company announced yesterday.
Under the plan, KKR will purchase KKR Private Equity Investors LP, its publicly traded, Amsterdam-based private equity investment fund, in a deal valued as high as $15 billion.
Principals of the New York-based firm will hold 79% of the combined company and KKR Private Equity shareholders will own the remaining 21%.
The transaction was approved by the board of KKR Private Equity Investors’ general partner and is subject to approval by KKR Private Equity’s shareholders.
The transaction marks a shift of plans announced last July by founders Henry R. Kravis and George R. Roberts to raise up to $1.25 billion through an IPO.
Trouble in the credit markets put the brakes on the offering.
The only other private-equity firm to become a public company is The Blackstone Group Inc. of New York, which launched its IPO in June 2007, in a deal valuing it at $4.13 billion.
Learn more about reprints and licensing for this article.
