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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Legislative proposals have recently been introduced in Denmark prosectus Germany that would limit the tax deductibility of interest expense incurred by companies in those countries. When conducting due diligence, we typically evaluate a number of important business, financial, tax, accounting, environmental and legal issues in determining whether or not to proceed with an investment. Our funds may make investments that could give rise to a conflict of interest. Because our earnings and cash flow can be highly variable from quarter to quarter and year to year, we do not plan to provide any guidance regarding our expected quarterly and annual operating results and cash flows.
As a result, the risk of loss associated with a leveraged company is generally greater than for companies with comparatively less debt. You should be aware that the U. These strengths include the following: In addition, in the United Kingdom, the Financial Services Authority recently published a discussion paper on the impact that the growth in the private equity market has had on the markets in the United Kingdom and the suitability of its regulatory approach kkt addressing risks posed by the private equity market.
We are permitted to repurchase all prospectua the outstanding common units under certain circumstances, and this repurchase may occur at an undesirable time or price. KKR Private Equity Investors, which is not reflected in the foregoing tables, is an entity listed on Euronext Amsterdam focused primarily on making private equity investments through and alongside our private equity funds but with the flexibility to make other types of opportunistic investments, including credit and public equity investments.
Neither we nor the underwriters have authorized anyone to provide you with additional or different information. Upon completion of this offering, the board will consist of a majority of independent directors and will have an audit committee and a conflicts committee each composed entirely of independent directors.
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KKR Holdings will also hold an equivalent amount of special voting units in our partnership, which will entitle it to cast an equivalent number of votes on those few matters that may be submitted to a vote of our unitholders. Our ability to recruit, retain and motivate our professionals is dependent on our ability to offer highly attractive incentive opportunities. Our decision to go public is based on our conclusion that the offering will benefit our firm and stakeholders over the kkd term by enabling us to grow in a manner that complements our businesses.
We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is prodpectus. If we do not continue to develop and implement the right processes and tools to manage our changing enterprise and maintain our culture, our ability to compete successfully and achieve our business objectives could be impaired, which could negatively impact our business, financial condition and results of operations.
KKR aims to take role of banks with IPO | Reuters
Such a failure to prowpectus growth, or an increase in costs related to such information systems, could have a material adverse effect on us. The incurrence of a significant iop of indebtedness by an entity could, among other things: KKR wants to be able to do this itself, and the equity it receives through the IPO will help make this happen, sources say.
We are truly a global firm. Operational risks may disrupt our businesses, result in losses or limit our growth.
Our results are highly dependent on our continued ability to generate attractive returns from our investments. We have prepared this prospectus using a number of conventions, which you should consider when reading the information contained herein. Even if the securities are publicly traded, large holdings of securities can often be disposed of only over a substantial length of time, exposing our investment returns to risks of downward movement in market prices during the intended disposition period.
KKR aims to take role of banks with IPO
We believe that if we continue live by these values we will be able to maintain our industry leadership far into the future. Our earnings are highly variable from quarter to quarter due to the volatility of investment returns of most of our funds and other investment vehicles and the fee income earned from our funds. A number of factors serve to increase our competitive risks: In the past, changing economic and financial conditions have led to variations in the level of our investment activities during any particular time period.
In addition, if interest rates were to rise or if market conditions for competing investment products improve and such products begin to offer rates of return superior to those achieved by our funds, the attractiveness of our funds relative to investments in other investment products could decrease.
Our Managing Partner will not have an economic interest in our partnership except for one common unit. Jkr competitive pressure could adversely affect our ability to make successful investments and limit our ability to raise future funds, either of which would adversely impact our business, results of operations and cash flow.
Our equity investments and many of our debt investments often rank junior to investments made by others, exposing us to greater risk of losing our investment. A general market downturn, or a specific market dislocation, may result in lower investment returns for our funds, which would adversely affect our net income.
Our most important asset is our people, and our continued success is highly dependent upon the efforts of our principals and other professionals. Also, during periods of financial distress or following an insolvency, the ability of our funds to influence a company’s affairs and to take actions to protect their investments may be substantially less than that of the senior creditors.
Prospeftus definition of assets under management is not based on any definition of assets under management that is set forth in the agreements governing the investment funds that we manage. While KKR says the IPO will allow it to grow through acquisitions, sources say the firm has no plans of leaving banks out in the cold, or even being their competitors, for that matter.
Our future success and growth depends to a substantial degree on our ability to retain and motivate our principals and other key personnel and to strategically recruit, retain and motivate new talented personnel, including new principals. With no financial services firm to model ourselves on and with little interest in copying an existing formula, we sought to build a firm based on principles and values that would provide a proper institutional foundation for years to come.