Wednesday, 27 July 2016
Last updated 18 min ago
Mar 17 2011 | 1:16pm ET
Kohlberg Kravis Roberts used its first-ever "investor day" to announce plans to increase its base of limited partners.
The private equity firm, which is holding its first annual meeting as a public company, said it need to recruit more investors; the firm currently has about 350 limited partners.
"It is incumbent on us—and we will do this in the next fundraise that we are in the process of doing for North America—to find other sources of capital that are not invested in us," co-founder George Roberts said.
KKR hopes to raise between $8 billion and $10 billion for the North America fund, about half what it raised for its last fund, a global offering, five years ago. The firm said it still has some $11 billion in capital available to make deals.