KPE’s Combination with KKR

On July 20, 2009, KKR Private Equity Investors, L.P. (“KPE”) and KKR & Co. L.P. (“KKR”) announced that they have entered into a revised purchase and sale agreement to combine the businesses of KPE and KKR. Under this agreement, KPE would receive equity interests representing 30% of the outstanding equity in the combined business and the balance of the equity would be owned by KKR’s existing owners and employees.

Cravath and Bredin Prat are lead counsels to KPE and the independent directors of KPE’s general partner. The Cravath lawyers involved in this transaction include partner George A. Stephanakis and associates Roberto Bruno, Susan K. Jong, Tamer O. Bahgat, Ting S. Chen, Christof Strasser, Lisenka Van Holewinckel and Stephanie J. Binder on corporate matters; partner Michael L. Schler and associate J. Leonard Teti II on tax matters; associates Jarrett R. Hoffman and Jared R. Whalen on executive compensation and benefits matters; and partner John E. Beerbower and associate Andrej Lang on litigation matters. The Bredin Prat team includes partners Patrick Dziewolski and Benjamin Kanovitch and associates Forrest Alogna and Elsa Fraysse on corporate matters and partner Yves Rutschmann and associate Sophie Alexane on tax matters.