Get 'er done

25 June 2009 By Richard Beales Follow @richardbeales1

The buyout firm s latest step towards a public listing looks more practical than last year s overambitious plan. And the implied value the deal puts on KKR this time is more in tune with real life. A tough year seems to have brought the buyout barons down to earth.

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KKR Private Equity Investors (KPE), an Amsterdamlisted vehicle that invests in Kohlberg Kravis Roberts funds, said on June 24 that KKR had offered to buy it on new terms.

The new terms would give KPE 30% of the enlarged KKR in exchange for the fund interests currently held by KPE. KPE's shares would remain listed in Amsterdam, with a restructuring and relisting of the entire enlarged KKR envisaged in the future.

KKR said that owners of 44% of KPE had said they would consent to the deal.

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