KKR Financial LLC Announces Appointment of Mark D. Lerdal as New Member
September 14 2006 - 5:23PM
PR Newswire (US)
SAN FRANCISCO, Sept. 14 /PRNewswire-FirstCall/ -- KKR Financial LLC
("KFL") today announced the appointment of Mark D. Lerdal as one of
its Members. Most recently, Mr. Lerdal served as President of KC
Holdings, Inc., a developer of energy projects. While operating KC
Holdings, Inc., Mr. Lerdal also consulted to ValueAct Capital
Partners, L.P., a small cap value fund where he sourced and
evaluated investments in the energy industry. Previously, Mr.
Lerdal served as President and Chief Executive Officer of Kenetech
Corporation, a San Francisco-based company specializing in the
financing and management of independent electric power projects.
Mr. Lerdal began his career as an Attorney at the law firm of
Brobeck, Phleger & Harrison. In his new role, Mr. Lerdal will
manage the distressed and pre- and post- bankruptcy investment
strategy of KFL. His responsibilities will include identifying
investment opportunities, structuring transactions, managing
investment positions, coordinating activity with other distressed
funds, and working as a member of the energy industry team. In
addition, working alongside the other Members of KFL, Mr. Lerdal
will be responsible for formulating and executing macro investment
strategies for the organization. Saturnino S. Fanlo, Co-Founder and
Member of KFL, said, "We are very pleased to welcome Mark Lerdal to
KFL. Mark's extensive experience in the energy sectors, combined
with his entrepreneurial skills and proven investment track record
make him an excellent addition to the KFL team." David A. Netjes,
Co-Founder and Member of KFL, said, "Mark's appointment reflects
our commitment at KFL to continually invest in, and expand, our
base of intellectual capital. Mark's investment experience and
expertise and leadership in our distressed investment activities
will assist us in our expansion of both the scope and nature of
KFL's investment activities and the related growth in KFL's assets
under management. Nino and I, along with the entire KFL investment
team, look forward to working with Mark and opportunistically
expanding KFL's investment activities in the distressed investment
arena." Scott C. Nuttall, Member, Kohlberg Kravis Roberts & Co.
L.P. said, "We are delighted to continue to expand the KFL team, as
we move to capitalize on multiple opportunities for our
organization going forward. Mark's investment and operational
experience, coupled with his legal background will be of tremendous
help to our organization as we execute on our ongoing investment
strategies." Mr. Lerdal graduated from Stanford University with a
B.A. in Economics and holds a J.D. cum laude from Northwestern
University School of Law. KKR Financial LLC KKR Financial LLC
("KFL"), through certain wholly-owned subsidiaries, is the
investment manager for KKR Financial Corp., which is externally
managed and publicly traded on the New York Stock Exchange under
the ticker symbol "KFN", and the KKR Strategic Capital funds, a
credit opportunity strategy that includes the KKR Strategic Capital
Fund, L.P., the KKR Strategic Capital Overseas Fund, Ltd., and the
KKR Strategic Capital Institutional Fund, Ltd. KKR Financial Corp.
had assets totaling $16.3 billion as of June 30, 2006, and the KKR
Strategic Capital funds have capital commitments totaling $1
billion as of September 12, 2006. KFL is an affiliate of Kohlberg
Kravis Roberts & Co. L.P. Contact: Investors, Laurie Poggi of
KKR Financial LLC, +1-415-315-3718; or Media, Roanne Kulakoff,
+1-212-521-4837, or Joseph Kuo, +1-212-521-4863, both of Kekst and
Company, for KKR. DATASOURCE: KKR Financial LLC CONTACT: Investors,
Laurie Poggi of KKR Financial LLC, +1-415-315-3718; or Media,
Roanne Kulakoff, +1-212-521-4837, or Joseph Kuo, +1-212-521-4863,
both of Kekst and Company, for KKR Web site:
http://www.kkrfinancial.com/
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