KKR Invests in Lyft

KKR Invests in Lyft Back to Press Releases

KKR Invests in Lyft

April 11, 2017

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the closing of a primary investment in Lyft, a leading ridesharing platform in the U.S. KKR is making the investment through its Next Generation Technology Fund, a fund dedicated to growth equity investment opportunities in the technology, media and telecommunications space.

“Lyft is fundamentally changing the way people think about car ownership and transportation,” said George Roberts, Co-Founder and Co-CEO of KKR. “With ridesharing increasingly in high demand, we are proud to partner with Lyft for their differentiated customer-centric culture, impressive growth strategy and exceptional management team, and to work together to change transportation for the better for both passengers and drivers.”

The investment is part of a $600 million Series G round of funding into the company. Financial details of the transaction were not disclosed.

For more information on this investment, please see “Taking a Ride with Lyft” on the KKR Blog.

About KKR

KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com and follow us on Twitter @KKR_Co or #KKRTMTGrowth for related news on KKR’s TMT platform.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170411006215/en/

Media:
KKR
Kristi Huller or Cara Kleiman
212-230-9722
media@kkr.com

Source: KKR & Co. L.P.

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This presentation contains certain forward-looking statements pertaining to KKR & Co. Inc. and its consolidated subsidiaries (collectively “KKR”), including certain investment funds, vehicles and accounts that are managed by KKR (each, a “fund”). Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to, assets under management, fee paying assets under management, after-tax distributable earnings, capital invested, syndicated capital, uncalled commitments, cash and short-term investments, fee related earnings, fee and yield segment EBITDA, core interest expense and book value, may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; the general volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions or strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR's investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date they are made. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility.

Additional information about factors affecting KKR, including a description of risks that may be important to a decision to purchase or sell any common or preferred stock of KKR & Co. Inc., can be found in KKR & Co. Inc.’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the SEC, which are available at www.sec.gov.