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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KKR aims to take role of banks with IPO
Capital markets activities represent an opportunity to efficiently increase our available investment capital, capture certain financing fees otherwise paid to third parties and earn incremental margins on committed capital.
If the proposed legislation survives the legislative and executive process in its proposed form and were to be enacted into law, we would incur a material increase in our tax liability.
We also believe that our relationships with financial institutions and the credibility that we have established through our past successes help us obtain financing for our transactions at attractive prices and with favorable terms. The adjustments are described in more detail in the notes to the unaudited pro forma statements of income and the unaudited pro forma statement of financial condition included under “Unaudited Pro Forma Financial Information.
For example, changes in state laws may limit investment activities of state pension plans. Congress have introduced legislation that would, if enacted, preclude us from qualifying for treatment as a partnership for U.
I;o Sarbanes-Oxley Act will require that we maintain effective disclosure controls and procedures and internal controls over financial reporting, which are discussed below. Treasury Department, frequently resulting in revised interpretations of established concepts, statutory changes, revisions to regulations and other modifications and interpretations.
KKR aims to take role of banks with IPO | Reuters
In addition, these agreements will expire after a certain period of time, at which point each of our principals would be free to compete against us and solicit investors in our funds, clients and employees.
Our investment processes are overseen by three committees that operate globally, which consist of our equity investment committee, which reviews all investments made by our private equity funds, our debt investment committee, which reviews all investments made by our credit strategy funds, and our portfolio management committee, which monitors the performance of our private equity investments.
The Pros;ectus Group is considered our predecessor for accounting purposes and its combined financial statements will be our historical financial statements following the Reorganization Transactions and this offering.
Ultimately, the focus shifts to capitalizing on business opportunities to drive value creation over the long term. The success of any hedging or other derivative transactions that we enter propectus generally will depend on our ability to correctly predict market changes. Our investment professionals meet regularly with major investment banking firms proxpectus potential investment opportunities, and we often work with the same group of financial institutions when seeking financing arrangements for our transactions.
We have hired experienced professionals with long-standing investor relationships to help us build this business. Our funds hold investments that include debt instruments and equity securities of companies that we do not control. We have continued our history of innovation by establishing new debt and public equity strategies that leverage the power of our brand and the intellectual capital in our private equity business. Among the factors that may affect currency values are trade balances, levels of short-term interest rates, differences in relative values of similar assets in different currencies, long-term opportunities for investment and capital appreciation and political developments.
Any failure of these initiatives to meet or exceed expectations could have an adverse effect on our results of operations. If this or any similar legislation or regulation were to be enacted and apply to us, we would incur a material increase in our tax liability that could result in a reduction in the value of our common units.
We also consider a range of additional factors that we deem relevant, including the price at which the investment was acquired, the nature of the investment such as whether it is a controlling interestlocal market conditions, market prices for comparable securities and financing transactions and internal models that consider the current and expected operating performance and cash flows of the company in which the investment was made.
Investments made by our private equity funds involve a number of significant risks inherent to private equity investing, including the following: We have substantially grown our business, particularly during the past several years, due largely to the successful investment performance of our funds. These conflicts include, among others, the following: Before making our investments, we conduct due diligence that we deem reasonable and appropriate based on the facts and circumstances applicable to each investment.
Our Managing Partner will not have an economic interest in our partnership except for one common unit. Our profitability may also be adversely affected by our fixed costs and the possibility that we would be unable to scale back other costs within a time frame sufficient to match any decreases in net income relating to changes in market and economic conditions.
The following table presents information concerning the total distributions made by our traditional private equity funds during the periods indicated. When making fair value determinations, we typically use a market multiples approach that considers a specified financial measure such as EBITDA or a discounted cash flow or liquidation analysis. Accordingly, we cannot be certain that the due diligence investigation that we will carry out with respect to any investment opportunity will reveal or highlight all relevant facts that ikr be necessary or helpful in evaluating such investment opportunity.
These provisions are detrimental to the unitholders because they restrict the remedies available to unitholders for actions that without those limitations might constitute breaches of duty including fiduciary duties.
They are, however, a healthy antidote to overconfidence, internal politics and other behaviors that could otherwise jeopardize our long-term success. As a result, we are subject to all of the risks and uncertainties associated with the expansion into any new line of business, including the risk that these new business initiatives will not assist us in achieving our objectives.
Our unitholders do not control our Managing Partner or vote in the election or removal of its directors and will have limited ability to influence decisions regarding our business. We may also experience fluctuations in our results from quarter to quarter due to a number of other factors, including changes in the amount of dividends or pprospectus earned in respect of investments, changes in our operating expenses, the degree to which we encounter competition and general economic and market conditions.