KKR nears NYSE listing; releases fourth quarter results

Deborah Sterescu
25 February 2010

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Private equity behemoth KKR is moving closer to listing on the New York Stock Exchange, as the firm has confirmed the move yet again in its financial results report for the fourth quarter, released yesterday.

The buyout house has already listed on Euronext, but a NYSE listing has been its eventual goal, a plan that has been postponed several times since the onset of the credit crisis.

The firm announced that it has "elected" to seek a listing on the NYSE, stating that it will use "reasonable efforts" to implement the float, including the preparation and filing of a registration statement with the US Securities and Exchange Commission as "promptly as practicable". The timing of the listing is therefore unclear, but it is expected in the coming months.

In June of last year, KKR chose to postpone its original plan to list on NYSE in favour of merging with its Euronext-listed fund KKR Private Equity Investors.

The firm also reported its earnings for the fourth quarter of last year - economic net income was $513.3m, compared with $822.7m the previous quarter. The decline is said to be due to unrealised gains in the firm's private equity portfolio. As of 31 December 2009, KKR had an available cash balance of $556.7m and $733.3m of outstanding debt obligations.