June 29, 2015

Kohlberg Kravis Roberts & Co. L.P.

Financial Fraud

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.

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