Why did KKR Guernsey impose restrictions on the ownership and transferability of its common units and RDUs?
KKR Guernsey imposed restrictions on the ownership and transferability of its common units and RDUs principally so that (1) it would qualify for applicable exemptions from registration as an investment company under the U.S. Investment Company Act of 1940, as amended (the “U.S. Investment Company Act”) and related rules and (2) it would avoid the risk of potential adverse implications to itself and unitholders that could arise under the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and similar laws.
Related Questions
- What are the consequences if I use the assets of a Plan to acquire or hold common units or RDUs in violation of the foregoing restrictions?
- Are there legends on the common units and RDUs that identify the applicable ownership and transfer restrictions?
- Why did KKR Guernsey impose restrictions on the ownership and transferability of its common units and RDUs?
