KKR PEC reports May 31 Transactional NAV: Class I $30.92, Class F $32.04

KKR Private Equity Conglomerate LLC

• Total Transactional NAV $6.67B on 218M shares outstanding as of May 31, 2025.
• Per-share NAV ranges from $30.37 (Class R-U) to $32.04 (Classes F, G, H).
• GAAP NAV was $6.38B; reconciliation adds $246.8M accrued fees and $45.8M deferred tax liabilities.
• Effective Jan 1, 2025, NAV methodology now excludes certain deferred tax liabilities of taxable subsidiaries contingent on divestment method.
• Valuation inputs: weighted avg cost of capital 11.1%, EV/forward EBITDA multiple 14.6x, illiquidity discount 8.3%.