GUERNSEY, CHANNEL ISLANDS, March 1 /CNW/ - KKR Private Equity Investors,
L.P. (Euronext Amsterdam: KPE) announced that it has entered into a commitment
to make a $300 million co-investment with an investor group proposing to
acquire TXU Corp. (TXU). This co-investment would be in addition to
approximately $200 million of capital contributions that KPE expects to fund
as a limited partner in KKR's private equity funds.
KPE's investment would be made at the closing of the acquisition of TXU
by an investor group led by Kohlberg Kravis Roberts & Co. (KKR) and Texas
Pacific Group (TPG) as contemplated by their previously announced merger
agreement. TXU, a Dallas-based energy company, manages a portfolio of
competitive and regulated energy businesses primarily in Texas.
As previously announced, TXU, KKR, TPG and other members of the investor
group expect to close the transaction in the second half of 2007, subject to
receipt of shareholder approval and required federal regulatory approvals, as
well as satisfaction of other customary closing conditions.
Whether this investment will be consummated depends on the satisfaction
or waiver of a number of conditions, some or all of which may not be in the
control of KPE, KKR PEI Investments, L.P. or KKR. No assurances can be made as
to whether or when, or the actual amount at which, this investment will be
KKR Private Equity Investors, L.P. (KPE) is a Guernsey limited
partnership that seeks to create long-term value primarily by participating in
private equity investments sponsored by Kohlberg Kravis Roberts & Co. (KKR).
Formed in April 2006, KPE enables certain public market investors to invest in
KKR-sponsored investments. KPE plans to invest at least 75% of its assets in
KKR's private equity investments, while up to 25% of KPE's 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.
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
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 or In Europe:
Finsbury Simon Moyse, +44-207-251-3801