KKR Private Equity Investors Announces Senior Secured Credit Agreement



    GUERNSEY, CHANNEL ISLANDS, June 11 /CNW/ - KKR Private Equity Investors,
L.P. (Euronext Amsterdam: KPE) announced that KKR PEI Investments, L.P. (the
"Investment Partnership") has entered into a $1.0 billion five-year revolving
credit agreement (the "Credit Agreement") with a syndicate of financial
institutions, including Citibank, N.A., as administrative agent, and Citigroup
Global Markets Inc., Goldman Sachs Credit Partners, L.P. and Morgan Stanley
Bank as joint lead arrangers and bookrunners. The Investment Partnership is
the entity through which KPE makes its investments.

    The Credit Agreement provides for up to $1.0 billion of senior secured
credit, subject to availability under a borrowing base determined by the value
of certain investments of the Investment Partnership pledged as collateral
security for its obligations under the Credit Agreement. The borrowing base is
subject to certain investment concentration limitations, and the value of the
investments constituting the borrowing base is subject to certain advance
rates based on the type of investment.

    Pursuant to the terms of the Credit Agreement, the Investment Partnership
has an option to seek an increase of the commitments available under the
Credit Facility up to a maximum amount of $2.0 billion, subject to the
satisfaction of certain customary conditions.

    The interest rates applicable to loans under the Credit Agreement are
generally based on either (i) the greater of the administrative agent's base
rate or U.S. Federal funds rate plus a specified margin of 0.5% or (ii) the
Eurodollar rate plus a specified margin ranging from 0.75% to 1.0%, depending
on the relevant assets constituting the borrowing base. The Investment
Partnership must pay an annual commitment fee of 0.20% on the undrawn
commitments under the Credit Agreement.

    Pursuant to covenants in the Credit Agreement, the Investment Partnership
must maintain a 50% senior secured debt ratio. In addition, the Credit
Agreement contains certain other customary covenants as well as certain
customary events of default.

    The Credit Agreement will expire on June 11, 2012, unless earlier
terminated upon an event of default. Borrowings under the Credit Agreement may
be used for general corporate purposes of the Investment Partnership,
including the acquisition and funding of investments.

    About KPE

    KKR Private Equity Investors, L.P. (KPE) is a Guernsey limited
partnership that seeks to create long-term value by participating in private
equity and opportunistic investments identified by Kohlberg Kravis Roberts &
Co. (KKR). Formed in April 2006, KPE enables certain public market investors
to invest in KKR-identified investments. KPE will invest at least 75% of its
assets in KKR's private equity investments, while up to 25% of its assets may
be invested opportunistically in other investments identified by KKR. KPE
makes its investments through another Guernsey limited partnership, KKR PEI
Investments, L.P., as its sole limited partner.

    The common units and related restricted depositary units of KPE are
subject to a number of ownership and transfer restrictions. Information
concerning these ownership and transfer restrictions is included in the
Investor Relations section of KPE's website at www.kkrpei.com.

    Forward-Looking Statements

    This release may contain certain forward-looking statements with respect
to the financial condition, results of operations, liquidity, investments,
business, net asset value, and prospects of KPE. By their nature,
forward-looking statements involve risk and uncertainty, because they relate
to events and depend on circumstances that will occur in the future, and there
are many factors that could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking
statements. KPE does not undertake to update any of these forward-looking
statements.




For further information:

For further information: Investor Contact: Integrated Corporate
Relations Andrew Greenebaum / Anne Rakunas, +1-310-954-1100 or Media Contacts:
In the U.S: Kekst and Company Mark Semer, +1-212-521-4800 In Europe: Finsbury
Simon Moyse, +44-207-251-3801

Organization Profile

KKR PRIVATE EQUITY INVESTORS, L.P.

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