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KKR To Convert To A Corporation From Partnership

KKR & Co. L.P. (KKR) said that its board unanimously approves plan to convert from a partnership to a corporation, effective July 1, 2018.

KKR expects to pay an annualized dividend of $0.50 per common share as a corporation and announces an increase in its available share repurchase authorization to $500 million, effective immediately.

"KKR's conversion from a partnership to a corporation is designed to broaden our investor base, simplify our structure and make it easier to invest in our shares. We believe this change, together with continued strong performance, will increase our ability to generate significant long-term equity value for all of our shareholders," said Henry R. Kravis and George R. Roberts, Co-Chairmen and Co-Chief Executive Officers of KKR.

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