KKR said in a registration statement with the U.S. Securities and Exchange Commission it expects to use the net proceeds from the offering to expand its business, to make additional capital commitments to its funds and portfolio companies, and for general corporate purposes.
The New York buyout firm's existing owners will not sell any common units or otherwise receive any of the net proceeds from the offering, KKR said.
The company said it intends to apply to list its common units on the New York Stock Exchange under the symbol "KKR."
KKR, which specializes in leveraged buyouts, had about $53.4 billion of assets under management as of March 31. Its 2006 net income was $1.11 billion.
For this year's first quarter, the company reported net income of $380.9 million, up 46 percent from $260.6 million in 2006's first quarter.