KFN SHAREHOLDER ALERT: Wohl & Fruchter Investigating the Merger of KKR Financial Holdings LLC with KKR & Co.

The law firm of Wohl & Fruchter LLP is investigating the merger of KKR Financial Holdings LLC (KKR Financial) (NYSE:KFN) with KKR & Co. (KKR).

On December 16, 2013, KKR announced that it had agreed to merge with KKR Financial in a $2.6 billion transaction. KKR Financial shareholders will receive 0.51 common units representing limited partnership interests of KKR for each share of KKR Financial they own, an exchange ratio that values KKR Financial at $12.79 a share.

The merger agreement provides that KKR Financial may not solicit proposals relating to alternative transactions, or, subject to certain exceptions, enter into negotiations for an alternative transaction.

Acting upon the unanimous recommendation of a special committee of the Board of Directors (Board) of KKR Financial, the Board approved the merger.

KKR Financial is externally managed and advised by KKR Financial Advisors LLC (Manager), a wholly-owned subsidiary of KKR. Since July 24, 2013, the CEO of KKR Financial has been Craig J. Farr, who is also a member of KKR, and the head of the KKR affiliate that wholly owns the Manager. Two members of KKR, including Farr, sit on the Board.

Wohl & Fruchter’s investigation concerns KKR’s role in the negotiation of the merger, and the fairness of the terms of the merger in light of the conflicts of interest between KKR and KKR Financial.

Additional information is available at http://www.wohlfruchter.com/cases/kfn.

Persons with relevant information, and KFN shareholders with questions about this investigation, are invited to contact our Firm by calling 866.833.6245, or contacting the attorney below.

About Wohl & Fruchter

Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.

This release may be deemed to constitute attorney advertising.

Wohl & Fruchter LLPJ. Elazar Fruchter, 845-425-4658 or 866-833-6245jfruchter@wohlfruchter.comwww.wohlfruchter.com

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