June 29, 2015
Kohlberg Kravis Roberts & Co. L.P.
SANCTION AMOUNT: $28,677,409
Defendants: Kohlberg Kravis Roberts & Co. L.P.
Settlement of charges that Respondent misallocated more than $17 million in so-called broken deal expenses to its flagship private equity funds in breach of its fiduciary duty. Respondent's co-investors, including its investors participated in relevant transactions, but no portion of the broken deal expenses was allocated to them for years, and Respondent's L.P. agreements did not disclose this.
- Key Docs
- Official SEC press release