New York, NY, July 21, 2008 – Kohlberg Kravis Roberts & Co. today announced that William C. Sonneborn will be joining the Firm as it seeks to broaden its asset management platform.  Mr. Sonneborn most recently was President and Chief Operating Officer of The TCW Group, Inc., a leading investment management firm with over $130 billion in assets.

Henry R. Kravis and George R. Roberts, Co-Founders of KKR, said: “For some time, KKR has pursued a strategy of building upon our traditional private equity expertise to offer complementary businesses that provide value for investors.  Toward that end, we’ve developed businesses in the credit markets (KKR Fixed Income) and, more recently, in the capital markets (KKR Capital Markets).    Bill Sonneborn will work closely with the credit and capital markets teams to build these and new asset management businesses over time with an eye to the strategies employed by the best large scale asset managers.  We are delighted to welcome Bill to the Firm and look forward to working with him on this important task.”

Mr. Sonneborn will work closely with KKR Member Scott Nuttall and the existing fixed income and capital markets teams to further develop the Firm’s asset management strategy in a manner complementary to KKR’s private equity activities; build and expand KKR’s expertise in these and new areas by recruiting additional professionals; and work with existing and potential investors and the public markets as a representative of KKR in these areas.   Mr. Sonneborn will be based in San Francisco, working with KKR’s teams in the U.S., Europe and Asia.

“The financial services industry is going through a period of significant dislocation and change which will present enormous opportunities,” said Mr. Sonneborn.  “Leveraging my experience at premier institutions in asset management and investment banking, I look forward to joining the team at KKR and contributing to the firm’s future success.”

Mr. Sonneborn joined TCW in 1998 as Managing Director and Chief Financial Officer, becoming Chief Operating Officer in 2001 and President in 2005.  While serving as COO and President, Mr. Sonneborn also served as Chief Executive Officer of The TCW Funds, Inc.   Prior to joining TCW, he spent six years at Goldman, Sachs & Co. in both New York and Hong Kong, primarily focused on marketing and executing corporate finance and mergers and acquisitions transactions for financial institutions.

He currently serves as a director and member of the Executive Committee of the Los Angeles Council of the Boy Scouts of America and as a trustee of the St. John’s Health Center Foundation.  He received a B.A. with honors from Georgetown University, Washington, D.C.

About KKR
Established in 1976, KKR is a leading global alternative asset manager. The core of the Firm’s franchise is sponsoring and managing funds that make private equity investments in North America, Europe, and Asia. Throughout its history, KKR has brought a long-term investment approach to portfolio companies, focusing on working in partnership with management teams and investing for future competitiveness and growth. Additional funds that KKR sponsors include KKR Private Equity Investors, L.P. (NYSE Euronext Amsterdam: KPE), a permanent capital fund that invests in KKR-identified investments; and two credit strategy funds, KKR Financial (NYSE: KFN) and the KKR Strategic Capital Funds, which make investments in debt transactions. KKR has offices in New York, Menlo Park, San Francisco, London, Paris, Hong Kong, Beijing and Tokyo. More information about KKR is available at: www.kkr.com.

Contact:
David Lilly / Ruth Pachman
Kekst and Company
212-521-4800