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Another "Killing It" Definition

We are fairly certain that none of our readers would be surprised to learn that private equity has been taking it on the chin in a big way in the last many quarters. What might be surprising is that the likes of KKR haven't been hit harder. We sort of expected to see leveraged endeavors like big private equity to return far more craptastic results. Apparently not:

Kohlberg Kravis Roberts & Co. losses mounted as the private-equity giant took sharp write-downs across its portfolio in the fourth quarter of 2008.
KKR Private Equity Investors LP, the publicly traded fund created by the firm to invest in its deals, announced that the value of its holdings dropped 32% during a period in which the S&P 500 stock-market index dropped 23% and the financial crisis entered a more serious phase.

Perhaps not losing to the S&P 500 by more than 900 basis points in the last quarter is the new killing it?
KKR Private Equity Says Holdings Lost 32% [The Wall Street Journal]