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KHP makes bid for Private Equity Investor

The board of KHP Fund GP LLC, the general partner of KHP, and the board of Private Equity Investor are pleased to announce that they have reached agreement on the terms of a recommended cash offer pursuant to which KHP, acting by the General Partner, will acquire the entire issued and to be issued share capital of Private Equity Investor.
Under the terms of the Offer, Private Equity Investor Shareholders will be entitled to receive 167.00 pence in cash for each Private Equity Investor Share held, valuing the entire issued share capital of Private Equity Investor at approximately GBP19,949,017. The consideration payable under the Offer will be funded by KHP, acting by the General Partner, from existing cash resources.

The Offer price for the entire share capital of Private Equity Investor represents a premium of approximately 10.6 per cent. to the Closing Price per Private Equity Investor Share of 151.00 pence on 10 August 2016 (being the last Business Day prior to the start of the Offer Period).

The Offer price for the entire share capital of Private Equity Investor represents a discount of approximately 20.9 per cent. to the 31 March 2016 reported audited net asset value per Private Equity Investor Share of 211.2 pence and a discount of approximately 25.1 per cent. to the reported unaudited net asset value per Private Equity Investor Share of 222.93 pence as at 31 July 2016 (being the last reported net asset value per Private Equity Investor Share prior to the start of the Offer Period).

KHP is an exempted limited partnership established under the laws of the Cayman Islands specifically established for the purpose of making the Offer. Kline Hill Partners LP is the sole limited partner of KHP and the General Partner is the general partner of KHP and the Fund. The General Partner has delegated responsibility for the investment operations of the Fund to Kline Hill Partners LLC. The Fund focuses on and invests in the private equity secondary market with sellers of all types, including those with smaller or more fragmented asset pools. The primary objective of the Fund is to invest in a diversified portfolio of private equity and private equity-related investments, principally purchased in secondary market transactions. The Fund seeks to acquire a portfolio comprised of primarily limited partnership interests in traditional buyout, venture, growth equity, and other private equity funds.

PEQ : KHP makes bid for Private Equity Investor

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