KirklandPEN Kirkland & Ellis LLP

Private Equity Newsletter — May 25, 2006

This issue includes the article “Non-U.S. Public Offerings by Private Equity Funds — A New Chapter in Fundraising,” which reports that KKR Private Equity Investors’ May 3 sale of $5 billion of partnership units on Euronext (Amsterdam) marks a new chapter for private equity fundraising.