Private equity firm KKR & Co. L.P. completed its IPO (for more information, go to our 7/15/10 post) and its final IPO prospectus was filed with the. This prospectus is not an offer to sell these securities and it the ability to complete an initial public offering of the portfolio company in which. The IPO profiles may contain historical records. Led by Henry Kravis and George Roberts, KKR is a global alternative asset manager with $ billion in AUM.
|Published (Last):||13 January 2006|
|PDF File Size:||11.66 Mb|
|ePub File Size:||10.97 Mb|
|Price:||Free* [*Free Regsitration Required]|
Investments made by our private equity funds involve a number of significant risks inherent to private equity investing, including the following: If a variation of this proposed legislation or any other change in the tax laws, rules, regulations or interpretations preclude us from qualifying for treatment as a partnership for U.
Investors in funds might decline to invest in future funds we raise. There is a risk that our employees could engage in misconduct that adversely affects our business. Prior to this offering, there has been no public market for our common units. We strive to maintain a work environment that reinforces our culture of collaboration, motivation and alignment of interests with investors. Pursuant to its limited liability company agreement, our Managing Partner has established a board of directors that will be responsible for the oversight of our business and operations.
While our Managing Partner’s board of directors will consist of a majority of directors who are independent under New York Stock Exchange Rules and have a nominating and governance committee, our nominating and governance committee will not consist entirely of independent directors or meet other substantive requirements that would be applicable absent such an exemption, and we do not intend to have a compensation committee.
KKR aims to take role of banks with IPO | Reuters
Because valuations, and in particular valuations of investments for which market quotations are not readily available, are inherently uncertain, may fluctuate over short periods of time and may be based on estimates, determinations of fair value may differ materially from the values that would have resulted if a ready market had existed.
To achieve these results, we recently hired additional investment personnel who have specialized experience in the kkt equity markets. These funds provide us with a flexible capital base that we may use to fund investments in a broad range of asset classes throughout the world.
In addition, immediately following this offering, our principals will generally have sufficient voting power to determine the outcome of any matters that may be submitted for a vote of our unitholders.
Contributing capital to these funds is risky, and we may lose some or all of the principal amount of our investments. Although we expect that kk of our funds’ capital commitments will be denominated in U. However, those assumptions and conventions may not be in compliance with all aspects of applicable tax requirements. Our private equity funds make investments primarily in companies with large capitalizations, which involves certain complexities and risks that are not encountered in small- and medium-sized investments.
Unlike the holders of common stock in a corporation, our unitholders will have only limited voting rights and will have no right to elect or remove our general partner or its directors.
The market conditions surrounding each of our businesses, and in particular our private equity business, have been quite favorable for a number of years. Our funds hold investments that include debt instruments and equity securities of companies that we do not control.
We place significant emphasis on selecting high-quality pprospectus that may be made at attractive prices, working with management to design and implement changes that drive value creation, and making informed decisions when developing investment exit strategies. We may experience higher than anticipated operating expenses as well as higher independent auditor and consulting fees during the implementation of these changes and thereafter.
Those prospecuts companies were based in more than 10 countries and operated in 11 industry sectors. For example, in earlythirteen private equity firms, including us, were named as proapectus in a purported class action complaint by shareholders in public companies recently acquired by private equity firms. As is commonly the case with limited partnerships, our partnership agreement provides for the management of our business and affairs by a general partner rather than a board of directors.
As a result of these conflicts, our Managing Partner may favor its own interests and the interests of its affiliates over the interests of our unitholders. Even if an investigation or proceeding does not result in a sanction kkr the sanction imposed against us or our personnel by a regulator were small in monetary amount, the adverse publicity relating to the investigation, proceeding or imposition of these sanctions could harm our reputation and cause us to lose existing clients or fail to gain new clients.
We intend to adhere to the disciplined investment approach that we have developed over our year history, focusing in particular on driving value creation from the time an investment is made.
KKR aims to take role of banks with IPO
We have kpo benefited from a high degree of continuity in our senior leadership. The ability of many of our funds to dispose of investments is heavily dependent on the public equity markets.
We believe our repeated and consistent dealings with the major financial services firms over a long period of time, and our completion of a significant number of larger transactions, have led to our being one of the first parties considered for potential investments. An imperfect correlation could prevent us from achieving the intended result and could give rise to a loss. Our decision to go public is based on our conclusion that the offering will benefit our firm and stakeholders over the long term by enabling us to grow in a manner that complements our businesses.
These assets were invested or available for investment in private equity, debt and public equity transactions. We have created two listed permanent capital funds that are able to grow organically through the continuous investment and reinvestment of capital, which we believe provides us with stability and with proospectus valuable potential source of prosoectus income.
We rely heavily on our financial, accounting and other data processing systems. These factors are outside our control and may affect the level and volatility of securities prices and the liquidity and the value of investments, and we may not be able to or may choose not to manage our exposure to these conditions.
As a public company, we will be subject to the reporting requirements of the Securities Exchange Act ofor the Exchange Act, and requirements of the Sarbanes-Oxley Act ofor the Sarbanes-Oxley Act.