KKR Goes Public

KKR Goes Public After Long Delay

(Oct. 1, 2009) I am a little late reporting this, but I guess that is fitting.  Kohlberg Kravis Roberts is finally a public company after merging with its Amsterdam-publicly listed affiliate.  Although the firm is yet to be listed on the New York Stock Exchange, Euronext is a big step toward that aim.

“Our missing [sic] is to create attractive returns for our investors,” KKR founder Henry Kravis and George Roberts said. “This transaction is a milestone that will enhance this mission and provide capital to grow our firm.”

The listed European partnership, KKR Private Equity Investors, has been renamed KKR & Co. (Guernsey). KPE shareholders own 30% of the combined company, while KKR’s executives own the rest. And while the plan may eventually be to raise capital for the firm, KKR neither issued new shares, nor did its executives sell any of theirs.

Over the summer, KKR shelved its planned listing in New York to offer better terms to KPE investors. It was the third time the firm has postponed plans to go public since first announcing them two years ago.

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