Thursday, a long awaited deal was concluded by private equity firm Kohlberg Kravis Roberts & Co, under which it bought its Amsterdam-quoted fund, thus becoming a Euronext- listed company along with completing the first step towards an expected move to the New York Stock Exchange.

From past two years, the storied New York firm, co-founded by "buyout king" Henry Kravis, was trying to follow rival Blackstone Group LP, with the aim of becoming a publicly-traded company. However, it could achieve its target due to the market turmoil.

It should be noted that the complicated deal of KKR to become a publicly traded entity requires combining with KKR Private Equity Investors LP, a Guernsey-limited partnership traded on Euronext (known as KPE). On Thursday, KPE was named renamed KKR & Co (Guernsey), which owns a 30 percent economic interest in the combined firm.

From Friday, the company's stock ticker will be KKR. As of now, the stock is listed on some systems as KPE.

Via a statement, co-founders Henry Kravis and George Roberts, specified, "Our mission is to create attractive returns for our investors. This transaction is a milestone that will enhance this mission and provide capital to grow our firm."

While KKR executives are not selling any interests, KKR is not issuing new shares under the deal.

Later a more complex method of going public was offered by KKR, under which it combined with KPE. The company in June officially withdrew the proposed New York IPO plan; however kept the door open for such a move, saying it had the ability to seek a listing in the future.