KKR Private Equity Investors Discusses Pace of Investments.

GUERNSEY, Channel Islands -- KKR Private Equity Investors, L.P. (Euronext Amsterdam: KPE) discussed the pace of the investments made by its investment partnership, KKR PEI Investments, L.P. (the "Investment Partnership"), during the Citigroup Financial Services Conference.

KPE announced that, as of January 26, 2007, the Investment Partnership has funded investments in aggregate of $2.5 billion, excluding temporary investments. In addition, the Investment Partnership is expected to fund at least $0.8 billion of additional capital, primarily in transactions previously announced by Kohlberg Kravis Roberts & Co. L.P. ("KKR"), within the next six months. Finally, after taking into account the expected fundings, the Investment Partnership will have unfunded capital commitments to KKR's private equity funds of $1.7 billion.

As of January 26, 2007, the Investment Partnership's $2.5 billion of net investments were as follows:

-- Investments of $643 million through KKR's private equity funds:
    -- $271 million in KKR European Fund, Limited Partnership,
    -- $164 million in KKR Millennium Fund L.P.,
    -- $142 in KKR 2006 Fund L.P., and
    -- $66 million in KKR European Fund II, Limited Partnership.

-- Co-investments of $950 million in portfolio companies of KKR's
   private equity funds:
    -- $250 million in HCA Inc.,
    -- $250 million in NXP B.V.,
    -- $200 million in The Nielsen Company (formerly VNU Group B.V.),
    -- $137 million in Capmark Financial Group Inc., and
    -- $113 million in Kion GmbH.

-- Opportunistic investments of $876 million:
    -- $350 million in convertible senior debt of Sun Microsystems,
       Inc. (net of $350 million of financing),
    -- $409 million of publicly traded securities, and
    -- $117 million in KKR Strategic Capital Institutional Fund, Ltd.

As of January 26, 2007, KPE believes that the Investment Partnership will fund approximately an aggregate of $0.8 billion of additional capital with respect to certain of KKR's private equity fund investments, co-investments and opportunistic investments during the next six months, including investments in:

* Biomet, Inc., a worldwide leader in the design and manufacture of musculoskeletal medical products,

* ProSieben- Sat.1 Media AG, Germany's largest TV broadcasting group,

* Laureate Education, Inc., a leading international provider of higher education,

* PagesJaunes, a leading publisher of printed and on-line directories in France, and

* KKR Strategic Capital Institutional Fund, Ltd.

Whether these investments will be consummated depends on the satisfaction or waiver of a number of conditions, including but not limited to KKR investment committee approval and, if applicable, KPE independent director approval, some or all of which may not be in the control of KPE, the Investment Partnership or KKR. No assurances can be made as to whether or when, or the actual amounts at which, any of these investments will be consummated.

All amounts in this release are reflected at their cost basis, net of any dispositions and, therefore, do not include any unrealized gains or losses and may differ from previously disclosed figures about such investments.

A live webcast of the presentation at the Citigroup Financial Services Conference is available via the Investor Relations section of KPE's website at www.kkrpei.com, where it will be archived for 30 days.

About KPE

KKR Private Equity Investors, L.P. (KPE) is a Guernsey limited partnership that seeks to create long-term value by participating in private equity and opportunistic investments sponsored by Kohlberg Kravis Roberts & Co. L.P. (KKR). Formed in April 2006, KPE enables certain public market investors to invest in KKR-sponsored investments. KPE plans to invest at least 75% of its assets in KKR's private equity investments, while up to 25% of KPE's assets may be committed to opportunistic investments outside the scope of KKR's traditional private equity investments. KPE makes its investments through another Guernsey limited partnership, KKR PEI Investments, L.P., as its sole limited partner.

The common units and related restricted depositary units of KPE are subject to a number of ownership and transfer restrictions. Information concerning these ownership and transfer restrictions is included in the Investor Relations section of KPE's website at www.kkrpei.com.

Forward-Looking Statements

This release may contain certain forward-looking statements with respect to the financial condition, results of operations, liquidity, investments, business and prospects of KPE. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. KPE does not undertake to update any of these forward-looking statements.