GUERNSEY, Channel Islands--(BUSINESS WIRE)--KKR Private Equity Investors, L.P. (Euronext Amsterdam: KPE), a Guernsey limited partnership that is invested predominantly in private equity investments sponsored by Kohlberg Kravis Roberts & Co. (“KKR”), today reported that KKR PEI Investments, L.P., the entity through which KPE makes its investments (the “Investment Partnership”), has agreed to transfer certain co-investments representing $211.0 million in fair value as of December 31, 2008, in the aggregate, to a KKR sponsored co-investment fund for an aggregate purchase price of $200.4 million in cash.

Kendra Decious, Chief Financial Officer of KPE’s Managing Partner commented, “This transaction further enhances the liquidity position of KPE and the Investment Partnership.”

The Investment Partnership is transferring portions of its co-investments in Biomet, Inc., Dollar General Corporation, First Data Corporation, HCA Inc. and The Nielsen Company B.V. The fair value as of December 31, 2008 of each co-investment being transferred is $42.2 million. Giving effect to the transaction, the Investment Partnership would retain a $117.8 million co-investment in Biomet, a $232.8 million co-investment in Dollar General, a $77.8 million co-investment in First Data, a $157.8 million co-investment in HCA and a $137.8 million co-investment in The Nielsen Company (based on their fair values as of December 31, 2008). These figures do not include the Investment Partnership’s investment in these portfolio companies through its limited partner interests in certain KKR private equity funds.

Pursuant to a purchase price adjustment, additional interests in these five co-investments will be transferred to, or returned by, the buyer based on the fair values of the five co-investments as of March 31, 2009, but the interests transferred or returned will not exceed $50.1 million in the aggregate based on the fair market values of these five co-investments as of March 31, 2009. The consummation of the transaction is subject to the satisfaction or waiver of customary conditions.

Entering into the transaction was contingent upon receiving the approval of the independent directors of the general partner of KPE. The independent directors were advised by Duff & Phelps, LLC, who acted as their independent financial advisor, and received a fairness opinion from them to the effect that the consideration to be paid in the transaction was fair, from a financial point of view, to KPE and its unitholders.

About KPE

KKR Private Equity Investors, L.P. (Euronext Amsterdam: KPE) is a Guernsey limited partnership that seeks to create long-term value by participating in private equity and other investments identified by Kohlberg Kravis Roberts & Co. (“KKR”). As of December 31, 2008, over 95% of KPE’s $3.4 billion portfolio was comprised of limited partner interests in six KKR private equity funds, co-investments in 13 companies alongside the private equity funds and negotiated equity investments. The remainder of KPE’s portfolio as of December 31, 2008 was invested primarily in cash and other temporary and opportunistic investments. KPE is governed by its general partner’s board of directors, which is required to have a majority of independent directors, and makes its investments as the sole limited partner of another Guernsey limited partnership, KKR PEI Investments, L.P.

The common units and related restricted depositary units of KPE are subject to a number of ownership and transfer restrictions. Information concerning these ownership and transfer restrictions is included in the Investor Relations section of KPE’s website at www.kkrprivateequityinvestors.com.

No Offering Statement

This release does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from KPE and that will contain detailed information about KPE and management, as well as financial statements.

Forward-Looking Statements

This release may contain certain forward-looking statements with respect to the financial condition, results of operations, liquidity, investments, business, net asset value and prospects of KPE. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future, and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. KPE does not undertake to update any of these forward-looking statements.

Contacts

Investors:

KKR KPE LLC

Kate de Mul, +1 212-659-2026

Investor Relations Manager

or

Media:

Kohlberg Kravis Roberts & Co.

Peter McKillop / Kristi Huller, +1 212-750-8300

media@kkr.com