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UPDATE 1-KPE says Q1 net asset value up slightly

Published 05/15/2009, 02:39 AM
Updated 05/15/2009, 02:56 AM

* Net asset value up 0.3 percent to $2.63 bln

* Investments in Dollar General Corp, HCA Inc marked up

AMSTERDAM, May 15 (Reuters) - Kohlberg Kravis Roberts & Co's Amsterdam-listed fund, KPE, on Friday reported a small increase in net asset value over the prior quarter, as it marked up the value of some of its investments.

Amsterdam-listed KKR Private Equity Investors (KPE), which has investments in a number of KKR's funds, said net asset value in the first quarter was almost $2.63 billion, 0.3 percent higher than the previous quarter.

Net asset value per share rose slightly to $12.82.

Private equity firms are obliged for the first time this year to value their investment stakes as if they were to sell them today, rather than years in the future when they may be sold, although KPE has been doing this from the fund's inception.

KPE marked up the value of its investments in U.S. retail chain Dollar General Corp and U.S. hospital operator HCA Inc, which offset markdowns in companies such as power company Energy Future Holdings Corp. (Reporting by Ben Berkowitz in Amsterdam and Megan Davies in New York; editing by Simon Jessop)

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