KKR To Raise $500 Million In New Share Sale

May 11 2010 | 1:31pm ET

Private equity giant KKR & Co. plans to sell up to $500 million in new shares when it moves its listing to the New York Stock Exchange last this year.

The New York-based firm said it will use the money raised on acquisitions and to cover unfunded capital commitments to its funds, which stand at about $1.27 billion, it said in a regulatory filing yesterday. None of the firm’s principals will take part in the share sale, KKR said in the registration statement.

The $52.2 billion firm went public last year by merging with its Amsterdam-listed p.e. fund. KKR announced in March that it would move forward with plans to re-list itself in New York this year.

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