Henry Kravis, Perry Golkin and Michael Tokarz, partners at Kohlberg Kravis Roberts & Co. made a presentation today to the roughly $5 billion Illinois State Board of Investment in Chicago regarding KKR's 1996 fund.
A decision was expected to be made today on whether the fund will invest in the fund, which has sweeter terms than previous deals.
The Illinois Board is an investor in KKR's 1986, 1987 and 1993 funds, and has earned an internal rate of return on its investments, net of fees, of 18.123%, according to KKR presentation materials.
In addition, the board was expected to discuss in closed session matters relating to the following existing managers: Newbold's Asset Management; Templeton Investment Counsel; Heitman; and J.P. Morgan. Additional information was unavailable at press time.