KKR Private Equity Investors, the Amsterdam-listed fund of the US buyout firm, has drawn down a substantial amount of its $1bn lending facility after Lehman Brothers, one of its banking syndicate, collapsed and wiped out part of the listed fund’s credit facility. KPE also revealed today that it expected a delay to its long-awaited New York listing until early next year.

Last June, KPE arranged a $1bn (€779m) senior secured revolving credit facility facility with Citibank as an administrative agent and with Citigroup, Goldman Sachs and Morgan Stanley as joint lead arrangers and bookrunners. Lehman was one of the syndicate.