KKR On The Nasdaq?

(Reuters) – Private equity giant Kohlberg Kravis Roberts & Co is considering listing on either the Nasdaq stock market or the New York Stock Exchange, according to a document sent to unitholders of its KKR Private Equity Investors LP on Friday.

KKR has been trying for two years to follow rival Blackstone Group in becoming a listed company, and had previously announced — then scrapped — plans to list on the New York Stock Exchange.

It most recently announced plans to buy its Euronext listed fund is a roundabout way for KKR to gain a European listing, and is a step towards it becoming a U.S. traded company.
In the document to unitholders on Friday, KKR said that following the deal to buy its Euronext-listed fund, both KKR and KPE have the right to list on either the New York Stock Exchange or The NASDAQ.
If such listing occured, KPE would make an in-kind distribution of its interests in the combined company to KPE unitholders, and KPE would be delisted from Euronext.

The details were included in a consent solicitation KPE sent on Friday, seeking approval of its unitholders to proceed with the planned combination.

Under the consent solicitation, if the majority of the unitholders provide valid consent prior to the August 14 expiry date, KPE may then move ahead with the proposed plan. Those owning 44 percent of KPE’s outstanding shares have already agreed to the deal.

Provided that consent is obtained from unitholders, the deal is expected to occur on October 1. The record date for determining which KPE unitholders were entitled to consent to the transaction was July 23.

By Megan Davies