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:
-0-
*T
-- 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.
*T
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 investments in:
-- 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 education,
-- 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 consummated.
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.
About KPE
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.
Forward-Looking Statements
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.
