KKR to file pre-listing compensation details

KKR filed for a $2.2bn listing in March, and has made several amendments to the filing since then; the final update being awaited is to detail compensation for senior executives, including co-CEOs Henry Kravis and George Roberts.

Once this has been disclosed, the US Securities and Exchange Commission needs to declare the listing registration effective, and KKR can then decide when the shares will begin trading.

The news comes three years after the firm first attempted a flotation. KKR had filed a registration statement with the SEC in July 2007, saying at the time that it expected to complete the listing in the third or fourth quarter that year, but the public markets started to plummet shortly after the announcement, leading to a cancellation of the IPO.

The listing will involve the transfer of shares from its Euronext-listed KKR Guernsey arm to New York, with KKR Guernsey contributing its assets in return for NYSE-listed common units. KKR Guernsey shareholders will own 30 per cent of the NYSE-listed company, with the remaining 70 per cent to be held by the firm’s principals and staff. The listing will give the firm a reported market capitalisation of $7.5bn.

KKR just inked its first major deal in Japan, acquiring recruitment services company Intelligence for $358.4m.

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