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peHUB First Read

This morning First Read brings you KKR’s $2 billion energy fund close, Personalized Medicine Capital’s $75 million to invest in early stage healthcare and a look at which investors could be considering mezzanine funds in the year ahead.

Photo of Henry Kravis by Shannon Stapleton of Reuters
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KKR founders made more than $160 mil each last year

(Reuters) – KKR & Co LP‘s founders Henry Kravis and George Roberts received $161.4 million and $165.5 million, respectively, in cash dividends and executive pay in 2013, over 17 percent more than they got in 2012, according to a regulatory filing.

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peHUB First Read

Want to know how much KKR founders made in 2013 and what venture funds are doing it for CalPERS? Find out in the latest headlines in this Tuesday morning’s First Read.

KKR pulls two funds in retail investor pitch setback – Reuters

KKR has said it would liquidate two funds targeting individual investors, in a blow to the private equity firm’s efforts to widen its appeal beyond institutional investors such as pension funds and insurance firms, writes Reuters. Developing offerings for retail investors has historically been challenging for KKR and other private equity firms, such as Blackstone Group LP and Carlyle Group LP, because the average buyout fund is illiquid, with a typical life span of 10 years, writes Reuters.

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peHUB First Read

This morning there is fund news aplenty with KKR pulling two of its retail vehicles, Austin Ventures in talks about its new fund and Vortus in the market with a maiden offering.

KKR’s Rundong Auto to raise up to $300 mln in Hong Kong listing – Reuters

China’s Rundong Automobile Group, backed by private equity firm KKR, plans to raise up to $300 million through a Hong Kong listing in the first half of 2014, according to IFR, writes Reuters. The car dealership company in eastern China joins a number of mainland peers targeting Hong Kong listings to fund expansion after a pick-up in China’s automobile demand in 2013.

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