LONDON (ShareCast) - US investment giant Kohlberg Kravis Roberts & Co (KKR) announced on Sunday that it will float on the New York Stock Exchange as part of a deal to take over its Amsterdam-listed affiliate KPE.

The group, which is run by Henry Kravis and George Roberts, originally planned to go public more than a year ago but delayed the debut because of market turmoil.

Upon completion of the transaction, which is expected during the fourth quarter, KKR principals will own 21% of the enlarged entity, while KKR Private Equity Investors will receive the remaining 79%.

"Moving forward with a public listing will allow KKR to do what we do best -- grow companies around the world and produce solid returns for our investors from a larger platform and a deeper capital base," Henry Kravis and George Roberts said in a statement.

In a statement, KPE's independent directors said the funds unitholders “will benefit from direct access to KKR's entire business as it builds upon its private equity foundation, while retaining significant participation through the contingent value interests should there be a shortfall in the expected value of the combined company.”

KKR joins a number of its rivals on the NYSE, including Fortress Investment and Blackstone, which has seen its stock price halve since it floated last year.

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