GUERNSEY, CHANNEL ISLANDS, January 31 /CNW/ - KKR Private Equity
Investors, L.P. (Euronext Amsterdam: KPE) discussed the pace of the
investments made by its investment partnership, KKR PEI Investments, L.P. (the
"Investment Partnership"), during the Citigroup Financial Services Conference.
KPE announced that, as of January 26, 2007, the Investment Partnership
has funded investments in aggregate of $2.5 billion, excluding temporary
investments. In addition, the Investment Partnership is expected to fund at
least $0.8 billion of additional capital, primarily in transactions previously
announced by Kohlberg Kravis Roberts & Co. L.P. ("KKR"), within the next six
months. Finally, after taking into account the expected fundings, the
Investment Partnership will have unfunded capital commitments to KKR's private
equity funds of $1.7 billion.
As of January 26, 2007, the Investment Partnership's $2.5 billion of net
investments were as follows:
-- Investments of $643 million through KKR's private equity funds:
-- $271 million in KKR European Fund, Limited Partnership,
-- $164 million in KKR Millennium Fund L.P.,
-- $142 in KKR 2006 Fund L.P., and
-- $66 million in KKR European Fund II, Limited Partnership.
-- Co-investments of $950 million in portfolio companies of KKR's
private equity funds:
-- $250 million in HCA Inc.,
-- $250 million in NXP B.V.,
-- $200 million in The Nielsen Company (formerly VNU Group B.V.),
-- $137 million in Capmark Financial Group Inc., and
-- $113 million in Kion GmbH.
-- Opportunistic investments of $876 million:
-- $350 million in convertible senior debt of Sun Microsystems,
Inc. (net of $350 million of financing),
-- $409 million of publicly traded securities, and
-- $117 million in KKR Strategic Capital Institutional Fund, Ltd.
As of January 26, 2007, KPE believes that the Investment Partnership will
fund approximately an aggregate of $0.8 billion of additional capital with
respect to certain of KKR's private equity fund investments, co-investments
and opportunistic investments during the next six months, including
-- Biomet, Inc., a worldwide leader in the design and manufacture of
musculoskeletal medical products,
-- ProSieben- Sat.1 Media AG, Germany's largest TV broadcasting group,
-- Laureate Education, Inc., a leading international provider of higher
-- PagesJaunes, a leading publisher of printed and on-line directories
in France, and
-- KKR Strategic Capital Institutional Fund, Ltd.
Whether these investments will be consummated depends on the satisfaction
or waiver of a number of conditions, including but not limited to KKR
investment committee approval and, if applicable, KPE independent director
approval, some or all of which may not be in the control of KPE, the
Investment Partnership or KKR. No assurances can be made as to whether or
when, or the actual amounts at which, any of these investments will be
All amounts in this release are reflected at their cost basis, net of any
dispositions and, therefore, do not include any unrealized gains or losses and
may differ from previously disclosed figures about such investments.
A live webcast of the presentation at the Citigroup Financial Services
Conference is available via the Investor Relations section of KPE's website at
www.kkrpei.com, where it will be archived for 30 days.
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 sponsored by Kohlberg Kravis Roberts &
Co. L.P. (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 committed to opportunistic investments outside the scope
of KKR's traditional private equity investments. 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 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, +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