Private equity firm KKR & Co. and KKR Private Equity Investors have extended the date by which the pending acquisition of KPE by KKR is required to be completed, to 31 August 2009 from 27 April.KKR and the independent directors of KPE’s general partner continue their process of evaluating the advisability of the transaction, according to a statement.
KPE is a Guernsey limited partnership that participates in private equity and other investments identified by KKR.
As of 31 December 2008, over 95% of KPE’s $3.4 billion portfolio was comprised of limited partner interests in six KKR private equity funds, co-investments in 13 companies alongside the private equity funds and negotiated equity investments. The remainder of KPE’s portfolio was invested primarily in cash and other temporary and opportunistic investments, the company says.
KPE is governed by its general partner’s board of directors, which is required to have a majority of independent directors.
D.C.