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KKR charged with allocating private-equity expenses to investors but not executives

( June 29, 2015, 16:30 GMT | Official Statement) -- MLex Summary: The US Securities and Exchange Commission said Kohlberg Kravis Roberts (KKR) agreed to pay $28.5 million to settle charges it misallocated $338 million in “broken deal” expenses to flagship private equity fund investors but not to executives and some consultants. “Broken deal” expenses are incurred when a firm researches a buyout opportunity that ultimately goes unconsummated. The SEC alleged KKR also failed to disclose this arrangement from 2006 to 2011.Statement follows in full. ...

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