KKR Private Equity Investors, L.P. (Euronext Amsterdam: KPE)
announced that it has entered into a commitment to make a $300 million
co-investment with an investor group proposing to acquire TXU Corp.
(TXU). This co-investment would be in addition to approximately $200
million of capital contributions that KPE expects to fund as a limited
partner in KKR's private equity funds.
KPE's investment would be made at the closing of the acquisition
of TXU by an investor group led by Kohlberg Kravis Roberts & Co. (KKR)
and Texas Pacific Group (TPG) as contemplated by their previously
announced merger agreement. TXU, a Dallas-based energy company,
manages a portfolio of competitive and regulated energy businesses
primarily in Texas.
As previously announced, TXU, KKR, TPG and other members of the
investor group expect to close the transaction in the second half of
2007, subject to receipt of shareholder approval and required federal
regulatory approvals, as well as satisfaction of other customary
closing conditions.
Whether this investment will be consummated depends on the
satisfaction or waiver of a number of conditions, some or all of which
may not be in the control of KPE, KKR PEI Investments, L.P. or KKR. No
assurances can be made as to whether or when, or the actual amount at
which, this investment will be consummated.
About KPE
KKR Private Equity Investors, L.P. (KPE) is a Guernsey limited
partnership that seeks to create long-term value primarily by
participating in private equity investments sponsored by Kohlberg
Kravis Roberts & Co. (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 invested
opportunistically in other investments identified by KKR. 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, net asset value, 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.
