Investment Partnership's Portfolio

All amounts in millions of U.S. Dollars.

KKR's private equity funds:	Fair Value as of September 30, 2008
KKR 2006 Fund L.P. KKR Millennium Fund L.P. KKR European Fund, Limited Partnership KKR European Fund II, Limited Partnership KKR Asian Fund L.P. KKR European Fund III, Limited Partnership	$     1,065       174       172       75      64      8      1,558
Co-investments in portfolio companies of private equity funds:
HCA Inc. Alliance Boots plc Dollar General Corporation The Nielsen Company B.V. Biomet, Inc. Energy Future Holdings Corp. First Data Corp NXP B.V. Capmark Financial Group Inc. U.S. Foodservice, Inc. KION Group GmbH PagesJaunes Groupe S.A. ProSiebenSat.1 Media AG	300       267       250       220       200       200       200       125       108       100       85       74      21      2,150
Negotiated equity investments:
Orient Corporation convertible preferred stock. Sun Microsystems, Inc. convertible senior notes. (1) Aero Techincal Support & Services S.à r.l	164       161       0      325
Opportunistic investments:
Investments by KKR Strategic Capital Institutional Fund, Ltd. Fixed income investments Publicly traded securities	152       94       35      282
TOTAL	$  4,314

(1) Reflected net of $350 million of long-term financing.
Note: As of September 30, 2008, the fair value of securities sold, not yet purchased and options written were $24.6 million and $0.3 million, respectively, and are shown as liabilities in the consolidated statements of assets and liabilities of the Investment Partnership.

Investment Allocation

The Investment Partnership holds investments in 101 companies, in 9 industry groups and based in 16 countries as of September 30, 2008. The Investment Partnership’s portfolio allocation of private equity and opportunistic investments, net of the related financing of a negotiated equity investment, was as follows as of September 30, 2008:
 

 

Investments, net of the related financing of a negotiated equity investment, held by the Investment Partnership, excluding temporary investments, were comprised of the following by geography as of September 30, 2008:
 

 

Investments, net of related financing, held by the Investment Partnership, excluding temporary investments, were comprised of the following by industry group as of September 30, 2008: