KKR Completes Final Closing on Second European
Fund;
Caps Total Raised at €4.5 Billion
NEW YORK, October 24, 2005
– Kohlberg Kravis Roberts & Co. (KKR),
a leading private equity firm, today announced
that it has completed the final closing of KKR
European Fund II, Limited Partnership, its second
private equity fund targeting investments primarily
in Western Europe. The Fund was capped at €4.5
billion, exceeding the Firm’s initial
target by €1.5 billion, and KKR had received
subscriptions significantly in excess of the
€4.5 billion cap. KKR’s first European
fund, KKR European Fund, Limited Partnership,
which was raised in 1999, has invested or committed
for investment all US$3 billion of its committed
capital.
The executives of KKR have committed €100
million of the capital raised. The remaining
capital was raised from a variety of institutional
investors across North America, Europe, Asia
and the Middle East, including approximately
40% from new investors.
KKR currently is managing approximately US$11.5
billion in funds, including European II and
the US$6.0 billion KKR Millennium Fund L.P.,
which primarily targets U.S. and Canadian companies
for investment.
Henry Kravis and George Roberts, founding partners
of KKR, said, “Our new Fund will build
on our accomplishments in Europe. Since our
founding in 1976, we have raised 11 funds, invested
US$22.5 billion in equity, and realized more
than US$50.7 billion for our limited partners.
Our gross IRR across all of our funds is 27.1
percent, representing a multiple of invested
capital of 2.7x. Moreover, in the last ten years,
we have distributed an average of US$3.3 billion
each year to our investors, or a total of US$33
billion. We are extremely proud of this track
record, as it reflects that we have created
in aggregate more value for investors than any
other private equity firm.”
KKR made its first investment in Europe in
1996, before raising its first European fund
in 1999, and in aggregate has invested US$4.8
billion of equity in 17 European companies through
a wide range of transactions. These include
the largest leveraged buyouts to date in the
Netherlands and France, a market leading eight
investments in Germany, and nine European transactions
with a value of US$1 billion or greater. KKR’s
European investments include Newsquest, Willis
Group, Wincor Nixdorf, Legrand, Royal Vendex,
ATU and MTU, among others.
About KKR
Kohlberg Kravis Roberts & Co. (KKR)
is one of the world's oldest and most experienced
private equity firms specializing in management
buyouts. Founded in 1976, it has offices in
New York, Menlo Park, California, London, Paris
and Hong Kong. For more information, please
visit www.kkr.com.
CONTACTS:
Ruth Pachman/Molly Morse/David Lilly
Kekst and Company
212-521-4800
Back to Press Releases
2005
|
 |
