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KKR Private Equity Investors sells co-investments to another KKR fund

KKR Private Equity Investors has announced that KKR PEI Investments, the entity through which it makes its investments, has agreed to sell certain co-investments to a KKR-sponsored co-i

KKR Private Equity Investors has announced that KKR PEI Investments, the entity through which it makes its investments, has agreed to sell certain co-investments to a KKR-sponsored co-investment fund for an aggregate price of USD200.4m in cash.

KKR Private Equity Investors is a Euronext Amsterdam-listed Guernsey limited partnership that is invested predominantly in private equity investments sponsored by Kohlberg Kravis Roberts.

Kendra Decious, chief financial officer of KKR Private Equity Investors’ managing partner, says: ‘This transaction further enhances the liquidity position of KPE and the investment partnership.’

The investment partnership is transferring portions of its co-investments in Biomet, Dollar General Corporation, First Data Corporation, HCA and The Nielsen Company.

The fair value as of 31 December 2008 of each co-investment being transferred is USD42.2m.

Giving effect to the transaction, the investment partnership would retain a USD117.8m co-investment in Biomet, a USD232.8m co-investment in Dollar General, a USD77.8m co-investment in First Data, a USD157.8m co-investment in HCA and a USD137.8m co-investment in The Nielsen Company.

The figures do not include the investment partnership’s separate investments in the portfolio companies through its limited partner interests in KKR private equity funds.

Pursuant to a purchase price adjustment, additional interests in the five co-investments will be transferred to, or returned by, the buyer based on the fair values of the five co-investments as of 31 March, but the interests transferred or returned will not exceed USD50.1m in the aggregate.

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