Officials at two large public pension funds are considering investing in Kohlberg Kravis Roberts & Co.'s 1996 buy-out fund.
The $8.6 billion Iowa Public Employees' Retirement System, Des Moines, is fairly far into evaluating an investment in the KKR fund, said an investment officer at the Iowa system. Iowa is working with Pathway Capital Management in negotiating a possible investment with KKR, he said. Iowa has invested about $430 million in total with KKR's 1986, 1987 and 1993 funds, he said.
Also, the $4.8 billion Illinois State Board of Investment, Chicago, is considering an investment in KKR's 1996 fund, said Jane Patterson, executive director. She said no decisions have been made yet; the board just received final terms on the fund this week. The Illinois board has invested about $130 million previously with KKR, she said.
At least four public pension funds have committed to the new KKR fund and seven public funds and one corporate pension fund are considering doing so.
