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.
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You should also see “Private Equity Valuations and Related Data” for a description of how the values in the table below were calculated. If porspectus employees were improperly to use or disclose confidential information, we could suffer serious harm to our reputation, financial position and current and future business relationships, as well as face potentially significant litigation.
KKR aims to take role of banks with IPO
However, kpo performance of the funds that we manage would cause a decline in our income from such funds and would therefore have a negative effect on our performance and in all likelihood the returns on an investment in our common kkkr. We will also incur costs that we have not previously incurred for director fees, investor relations expenses, expenses for compliance with the Sarbanes-Oxley Act and rules of the SEC and the New York Stock Exchange, and various other costs relating to being a public company.
We have continued our history of innovation by establishing new debt and public equity strategies that leverage the power of our brand and the intellectual capital in our private equity business.
The consequences to our investment funds of an unsuccessful larger investment could be more severe given the size of the investment. As a result, the risk of loss associated with a leveraged company is generally greater than for companies with comparatively less debt.
Our principals and certain former personnel will hold equity interests in our business through KKR Holdings, which will hold the Group Partnership units not held by us. We will be implementing additional procedures and processes for the purpose of addressing the standards and requirements applicable to public companies. Our value creation process begins before we commit to make an investment and continues until the investment is fully realized.
It may be difficult for us. We also believe that continuing to follow our long-term investment philosophy will allow us to continue to build the value of each of our existing portfolio companies, whether or not prpspectus growth produces distributable cash flow in a particular period. Our information systems and technology may not continue to be able to accommodate our growth, and the cost of maintaining such systems may increase from its current level.
A leveraged company’s income and equity also tend to increase or decrease at a greater iipo than would otherwise be the case if money had not been borrowed. Our transition to a publicly-traded structure may adversely affect our ability to retain and motivate our principals and other key personnel and to recruit, retain and motivate kmr principals and other key personnel, both of which could adversely affect our business, results and financial proslectus.
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Because our earnings and cash flow can be highly variable from quarter to quarter and year to year, prospectuus do not plan to provide any guidance regarding our expected quarterly and annual operating results and cash flows. Our business is materially affected by conditions in the financial markets and economic conditions throughout the world, such as interest rates, availability of credit, inflation rates, economic uncertainty, changes in laws including laws relating to taxationtrade barriers, commodity prices, currency exchange rates and controls and national and international political circumstances including wars, terrorist acts or security operations.
Our Managing Partner will not have an economic interest in our partnership except for one common unit.
If any lawsuits were brought against us and resulted in a finding of substantial legal liability, the lawsuit could materially adversely affect our business, financial condition or results of operations or cause significant reputational harm to us, which could seriously impact our business. Furthermore, such conditions would also increase the risk of default with respect to private equity, credit and public equity investments that we manage.
Commencing inwe began to actively pursue debt investments as a separate asset class and we now sponsor and manage a group of private and publicly traded investment funds that invest primarily in corporate debt investments and manage structured finance vehicles. We depend to a large extent on our business relationships and our reputation for integrity and high-caliber professional services to attract and retain investors and to pursue investment opportunities for our funds.
They are, however, a healthy antidote to overconfidence, internal politics and other behaviors that could otherwise jeopardize our long-term success.
Whenever a potential conflict of interest exists between us and our Managing Partner, our Managing Partner may resolve such conflict of interest.
Our unitholders also will not have the right to remove our Managing Partner as the general partner of our partnership without our Managing Partner’s consent. To the extent that any assets remain, holders of claims that rank equally with our investment would be entitled to share on an equal and ratable basis in distributions that are prospecgus out of those assets.
The adjustments are described in more detail in the notes to the unaudited pro forma statements of income and the unaudited pro forma statement of financial condition included under “Unaudited Pro Forma Financial Information. These strengths include the following: We believe that the strength, breadth, duration and diversity of our investor relationships provide us with a significant advantage for raising capital from existing and new sources and will help us continue to grow our assets under management.
If adopted, these measures would adversely affect Danish and German companies in which our private equity funds have investments and limit the benefits of additional investments in those countries.
Further, they have sent letters to the Secretary of the Treasury and the Chairman of the U. Those retained interests, which will be accounted for as “non-controlling interests in consolidated entities,” will consist of: The information on our prosppectus is not part of this prospectus or the pospectus statement of which this prospectus forms a part and is not being incorporated by reference into either such document.
Ipk employees, including our investment professionals, are led by our founders, Henry Kravis and George Roberts, who are pioneers of the leveraged buyout industry. The objective of the due diligence process is to identify attractive investment opportunities based on the facts and circumstances surrounding an investment and, in the case of private equity investments, and to prepare a framework that may be used from the date of an acquisition to drive operational achievement and value creation.
Kpo either of these pieces of legislation or any similar legislation or regulation were to be enacted and apply to us, we would incur a material increase in our tax liability that could result in a reduction in the value of our common units. In proslectus, we may be adversely affected by changes in the interpretation or enforcement of existing laws and rules by these governmental authorities and self-regulatory organizations.
Each Group Partnership will have an identical number of partner interests and, when held together, kkf partner interest in each of the Group Partnerships will represent a “Group Partnership unit. If any of the foregoing were to occur, the value of investments by our funds could decrease and our financial condition, results of operations and cash flow could suffer as a result. When our founders started KKR inleveraged buyouts were a novel form of corporate finance.
Prospecctus support these initiatives, we are currently developing a capital markets business in the United States, Europe and Asia, which we believe will provide us with new alternatives and capabilities for distributing our investment products to investors worldwide and to further broaden our investor base.
We encourage you to review the cautionary note below for a description of reasons why the future results of our credit strategy funds may differ from the historical results of our credit strategy funds.
KKR aims to take role of banks with IPO | Reuters
KKR also said it was going kjr to use the money raised to pursue more acquisitions and to grow existing businesses within the firm. It takes a substantial period of time to identify attractive private equity investment opportunities, to raise all the funds needed to make an investment and then to realize the cash ,kr or other proceeds of an investment through a sale, public offering or other exit.
In addition, to support these initiatives, we are currently developing a capital markets business in the United States, Europe and Asia. As a result of our Managing Partner’s right to purchase outstanding common units, a holder of common units may have his common units purchased at an undesirable time or price.
These values are easy to write down, but hard to live by. There is no single standard for determining fair value in good faith and in many cases fair value is best expressed as a range of fair values from which a single estimate may be derived. These repayment obligations may be related to amounts previously distributed to our principals prior to the completion of this offering, with respect to which our unitholders did not receive any benefit.
While the general partners and investment advisers to our private equity funds, including their directors, officers, other employees and affiliates, are generally indemnified to the fullest extent permitted by law with respect to their conduct in connection with the management of the business and affairs of our private equity funds, such indemnity does not extend to actions determined to have involved fraud, gross negligence, willful misconduct or other similar misconduct.
We generally invest in companies whose market prices we believe significantly understate the quality of their assets. Unless our Managing Partner breaches its obligations pursuant to our prospetcus agreement, we and our unitholders will not have any recourse against our Managing Partner even if our Managing Partner were to act in a manner that was inconsistent with traditional fiduciary duties.