KKR Custom Equity Opportunities Fund L.P. 4

What Happened
KKR TFO Partners L.P. (reported as a 10% owner) recorded dispositions of an aggregate 94,520,232 OneStream-related securities on April 1, 2026. These were not open-market sales but “other” dispositions (derivative securities and common-unit interests) that were cancelled and converted into cash under the parties’ Merger Agreement at a Per Share Price of $24.00. The aggregate cash consideration for these converted securities is approximately $2,268,485,568. The Form 4 was filed April 7, 2026.

Key Details

• Transaction date: April 1, 2026; Form 4 filed: April 7, 2026 (filed 6 days after the transactions).
• Price / consideration: $24.00 per share (merger cash-out).
• Aggregate shares/units reported disposed: 94,520,232 (sum of multiple fund-level entries).
• Estimated proceeds: ≈ $2.27 billion.
• Shares owned after transaction: filing reflects cancellation/conversion of the reported securities under the merger; the Form 4 does not list continuing Class D/Common Unit holdings post-conversion.
• Notable footnotes: transactions occurred pursuant to the Agreement and Plan of Merger (F1); Class D common stock and Common Units were cancelled and converted to cash at $24.00/share (F2–F3); multiple KKR affiliates/funds held the securities and some affiliates filed separate Form 4s (F10–F18). Reporting persons disclaim beneficial ownership except for pecuniary interest (F18).
• Filing timeliness: The Form 4 was filed April 7 for April 1 transactions (appears to be after the usual two-business-day reporting window).

Context

• These entries reflect institutional dispositions triggered by the acquisition/merger (cash-out conversion), not discretionary insider trading on the open market.
• Because KKR TFO Partners is an institutional 10% owner (with multiple affiliated funds noted in the footnotes), this is organizational-level disposition related to the deal mechanics rather than an executive-level trading signal.
• No inference about market sentiment should be drawn from corporate-merger conversions; this is a contractual cash settlement under the Merger Agreement.