Kohlberg Kravis Roberts warned Iowa’s public pension fund against complying with a public records request for information about fees it paid the buyout firm, saying that doing so risked it being barred from future private equity investments.

In an Oct. 28 letter to the Iowa Public Employees' Retirement System, KKR General Counsel David Sorkin said the data was confidential and exempt from disclosure under Iowa's open-records law. Releasing it could cause "competitive harm" to KKR, the letter said, and could prompt private equity fund managers to bar entree to future deals and "jeopardise [the pension fund's] access to attractive investment opportunities".