KKR Private Equity
Kohlberg, Kravis, Roberts & Co. Private Equity
Kohlberg, Kravis, Roberts & Co. is a big name in private equity and ranked fourth in the PEI 10 largest private equity firms in the world. The following piece on Kohlberg Kravis Roberts and Co. is being published as part of our Private Equity Tracker Tool and our daily effort to track private equity firms in the industry. If you are looking for contact details on KKR please see PrivateEquityDirectory.com
Summary of KKR Private Equity via the firm's website:
In recent years, the global growth of private equity has captured more and more public interest. Such interest is understandable. Funds managed by KKR (KFN) and other private equity investors play significant roles in the financial markets, own portfolio companies that employ large numbers of people, and invest on behalf of public and private pension plans that have millions of individual beneficiaries. At KKR, we take great pride in the accomplishments we’ve made over the last three decades, and believe our investments have had a positive impact on our portfolio companies, their stakeholders, and the economies in which we operate.Resource #1: KKR Shelves Secondary Offering
Our approach is to work as partners with the management of our portfolio companies and remain deeply involved in the operations of our businesses. In this way, we help build globally competitive franchises, many of which have increased employment, innovation, and research and development during our ownership. The key beneficiaries of our investments are people who receive support from pension funds, endowments, and foundations — which provide the majority of the capital for our funds. More than 20 state and local public pension plans, representing nearly 9 million members, have committed nearly one-half of the capital raised for our recent funds.
As a global leader in private equity investing, our achievements to date include the first leveraged buyout in excess of $1 billion, several of the largest buyouts in history, the first friendly tender offer in the buyout of a public company, and the largest completed or announced buyouts in the United States, the Netherlands, Denmark, India, Australia, Turkey, Singapore, and France.
If you're tired of hearing about KKR's initial public offering and now secondary public offering, good, you've been paying attention. Kravis Kohlberg Roberts and Co. were considering an initial public offering for some time and took concrete steps toward that goal only to withdraw their SEC filing this week. KKR was looking to raise $500 million through the secondary offering of shares to the public but due to a poor financial market, the private equity giant has decided not to go through with the offering.
The news came as the private equity firm released its first earnings report since it went public this year. KKR (KFN) reported earnings of 15 cents per share with a quarterly divident of 8 cents. This amounted to an annualized yield of just over 3%.
For more information see our tracker profile for KKR.
For contact details on this firm and more than 1,000 other private equity firm visit this website.
Resource #2: Dollar General Files for IPO
Dollar General, the discount retailer owned by Kohlberg Kravis Roberts, filed for an initial public offering with securities regulators on Thursday, in what many analysts expect to be a swell of private equity-owned companies again regaining stock listings.
Dollar General said in its filing that it was seeking to raise $750 million in its initial offering, making it one of the bigger I.P.O.’s this year if it manages to raise that amount. Kohlberg Kravis will also help underwrite the offering.
As the stock markets have posted gains this year, private equity firms — which hold onto companies for several years — have indicated that they will seek to cash out by taking their acquisitions public again. Source
Resource #3: KKR Combines with Private Equity Affiliate
Kohlberg Kravis Roberts & Co. and its publicly traded affiliate KKR Private Equity Investors LP (KPEQF 5.96, -0.24, -3.87%) said Monday they had agreed to combine. Under the terms, holders of KPE would receive interests representing 30% of the equity in the combined business. No cash is being paid out and no new securities are being issued. KPE units will continue to trade on Euronext Amsterdam. The terms were approved by KPE's board, based on a recommendation of its three independent directors, the companies said. KPE estimates its net asset value at June 30 was $14.55 to $14.75 a unit, or about $3 billion. Citigroup advised KPE, and Lazard advised its independent directors. Goldman Sachs and Morgan Stanley advised KKR. Source
Resource #4: KKR IPO
Kohlberg, Kravis & Roberts (KKR) is still planning on launching an initial public offering, but it has delayed that IPO to 2009. The worsening financial crisis forced KKR to push back its offering of shares to the public on the New York Stock Exchange.
KKR Private Equity has struggled throughout 2008, posting major quarterly losses. In the three month period ending September 2008, KKR Private Equity lost $649 million in the value of its investments... Click Here to Read More
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