KKR common unit sale is off

PRIVATE equity firm Kohlberg Kravis Roberts & Co said yesterday it has cancelled plans to sell $500m of new common units, less than one month after it listed on the New York Stock Exchange

KKR, one of the biggest private equity firms in the world, had announced plans to sell the units in May. The company did not provide a reason for the change.

It said at the time proceeds would be used to expand its business and for general corporate purposes.

The firm announced the cancellation in its second-quarter results.