KKR (Finally) Goes Public

Oct 1 2009 | 12:35pm ET

After three false starts, Kohlberg Kravis Roberts is finally a public company.

The private equity giant completed its much-delayed reverse merger with its Amsterdam-listed affiliate, making the New York-based firm a Euronext-listed company. The move is a first step towards transferring the listing to the New York Stock Exchange, which will likely come in the spring, Reuters reports.

“Our missing is to create attractive returns for our investors,” KKR founder Henry Kravis and George Roberts said. “This transaction is a milestone that will enhance this mission and provide capital to grow our firm.”

The listed European partnership, KKR Private Equity Investors, has been renamed KKR & Co. (Guernsey). KPE shareholders own 30% of the combined company, while KKR’s executives own the rest. And while the plan may eventually be to raise capital for the firm, KKR neither issued new shares, nor did its executives sell any of theirs.

Over the summer, KKR shelved its planned listing in New York to offer better terms to KPE investors. It was the third time the firm has postponed plans to go public since first announcing them two years ago.


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