NEW YORK (Reuters) – Private equity firm Kohlberg Kravis Roberts & Co. is asking investors in one of its European funds for an additional 730 million euros ($970 million) to make follow-on investments in the fund’s portfolio companies, a source familiar with the plan said on Friday.
The extra investments would be in an “annex fund” of KKR’s European Fund II, the source said.
The fund’s size is 4.5 billion euros and KKR finished raising it in October 2005, according to London-based private equity research firm Preqin.
The money is targeted to be used to invest across the fund’s portfolio, the source said. Investors have until May 13 to decide whether to participate, the source said. The details were earlier reported by Bloomberg.
KKR declined comment. (Reporting by Megan Davies; Editing by Phil Berlowitz)
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