In late July, KKR announced it would be joining the New York Stock Exchange in the fourth quarter of 2008 through the absorption of its European subsidiary KKR Private Equity Investors (KPE). The company, based on the Anglo-Norman Island of Guernsey and listed on the Amsterdam Stock Exchange, owns shares mainly in companies run by KKR. .( Finance Information City )
The review of U.S. stock regulator, the SEC, "continues", said KKR, in the communiqué to present the quarterly results of KPE.
While the value of its subsidiary melted in the third quarter because of extreme turmoil in financial markets, "the parties are still committed to complete this transaction, but for now do not expect to finalize the operation before 2009, "adds the fund.
The fund highlights the falling valuations on the stock and debt, contraction of credit and bankruptcy of many financial institutions to justify its decision.
Like most companies as hedge funds, funds of private equity face of dwindling funding sources and seek new growth opportunities, stressed in a recent PricewaterhouseCoopers study.
KKR was founded in 1976 by Henry Kravis and George Roberts, the company managed 53.2 billion dollars in assets at the end of 2007, including 42.2 billion dollars in the form of stakes in companies. On September 30, KPE had a net asset value of $ 3.86 billion (excluding investor withdrawals).
At the Amsterdam Stock Exchange, the KPE Monday lost 4.67% to 14H45 GMT
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