Bloomberg News

KKR to Enter Latin America In ‘Next Few Years,’ Kravis Says

June 02, 2011

(Adds comments by firm’s co-founder in second paragraph.)

June 2 (Bloomberg) -- KKR & Co., the private-equity firm managed by Henry Kravis and George Roberts, plans to enter Latin American markets, Kravis said today.

“We will get here in the next few years,” Kravis told a conference in Santiago, Chile. “We like the demographics of Latin America, each country is different. Some countries’ prices are still frothy. We don’t know how long they will be frothy, and that is why we are preparing to enter.”

Kravis said he is “fairly sanguine” about the U.S. economy, which probably will avoid a second recession and grow about 2 percent this year. KKR has “a terrific long-term view” of private equity, Kravis said, adding that an average holding of seven years means it probably takes a longer view than other firms.

Marathon Oil Corp. agreed to buy KKR-backed Hilcorp Resources Holdings LP’s assets for $3.5 billion, the Houston- based producer said yesterday in a statement. The deal values KKR’s 40 percent stake in the partnership at $1.13 billion, the New York-based firm said in a separate statement.

KKR is willing to take minority positions in companies, Kravis said.

--Editors: James Attwood, Glenn Kalinoski

To contact the reporters on this story: Eduardo Thomson in Santiago at ethomson1@bloomberg.net; Randall Woods in Santiago at rwoods13@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net


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