Exhibit 99.1

Net Asset Value

We calculate net asset value per share in accordance with valuation policies and procedures that have been approved by our board of directors. Our transactional net asset value (“Transactional Net Asset Value”) is the price at which we sell and repurchase our shares. Our GAAP net asset value (“GAAP Net Asset Value”) is our net asset value determined in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The following tables include the net asset value of outstanding shares as of November 30, 2023. The following table provides a breakdown of the major components of our Transactional Net Asset Value as of November 30, 2023 ($ in thousands, except shares):

Components of Transactional Net Asset Value	November 30, 2023
Investments at fair value (cost of $490,836)	$	498,715
Cash and cash equivalents		76,287
Other assets		14,641
Other liabilities		(14,978	)
Accrued performance participation allocation		(1,568	)
Management fee payable		—
Accrued shareholder servicing fees and distribution fees(1)		(634	)
Transactional Net Asset Value	$	572,463
Number of outstanding shares		22,237,082

(1) Shareholder servicing fees apply only to Class S, Class U, Class D, Class R-S, Class R-U and Class R-D shares. Distribution fees apply only to Class S, Class U, Class R-S and Class R-U shares. For purposes of Transactional Net Asset Value, we recognize shareholder servicing fees and distribution fees as a reduction to Transactional Net Asset Value on a monthly basis as such fees are accrued. For purposes of GAAP Net Asset Value, we accrue the cost of the shareholder servicing fees and distribution fees, as applicable, for the estimated life of the shares as an offering cost at the time we sell Class S, Class U, Class D, Class R-S, Class R-U and Class R-D shares. As of November 30, 2023, we have accrued under GAAP $32,643 of shareholder servicing fees and distribution fees payable to the dealer manager related to the Class R-U shares sold.

The following table provides a breakdown of our total Transactional Net Asset Value and our Transactional Net Asset Value per share by class as of November 30, 2023 ($ in thousands, except shares and per share data):

Transactional Net Asset Value Per Share	Class I Shares		Class R-I Shares		Class R-U Shares		Class F Shares		Class G Shares		Class H Shares		Total
Transactional Net Asset Value	$	1,798	$	79,033	$	491,579	$	51	$	1	$	1	$	572,463
Number of outstanding shares		69,695		3,062,509		19,102,831		1,967		40		40		22,237,082
Transactional Net Asset Value per share as of November 30, 2023	$	25.80	$	25.81	$	25.73	$	25.99	$	25.99	$	25.99

Reconciliation of Transactional Net Asset Value to GAAP Net Asset Value

The following table reconciles GAAP Net Asset Value to our Transactional Net Asset Value ($ in thousands):

	November 30, 2023
GAAP Net Asset Value	$	540,454
Adjustment:
Accrued shareholder servicing fees and distribution fees		32,009
Transactional Net Asset Value	$	572,463

Valuation Methodologies and Significant Inputs

The following table presents additional information about valuation methodologies and significant inputs used for portfolio company holdings that are valued at fair value as of November 30, 2023:

Valuation Methodology	Unobservable Input(s) (1)	Weighted Average (2)		Range
Inputs to market comparables, discounted cash flow and transaction price/other	Illiquidity Discount	6.4	%	5.0% – 15.0%
	Weight Ascribed to Market Comparables	10.6	%	0.0% – 50.0%
	Weight Ascribed to Discounted Cash Flow	18.3	%	0.0% – 75.0%
	Weight Ascribed to Transaction Price/Other	71.0	%	0.0% – 100.0%
Market Comparables	Enterprise Value / Forward EBITDA Multiple	15.0	x	10.4x – 16.5x
Discounted Cash Flow	Weighted Average Cost of Capital	11.0	%	8.8% – 18.0%
	Enterprise Value / LTM EBITDA Exit Multiple	11.8	x	2.5x – 17.0x

(1) In determining the inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies, and company-specific developments including exit strategies and realization opportunities. KKR Private Equity Conglomerate LLC’s manager (the “Manager”) has determined that market participants would take these inputs into account when valuing the investments. “LTM” means Last Twelve Months.

(2) Inputs are weighted based on fair value of the investments included in the range.

The Manager is ultimately responsible for our net asset value calculations.

Valuations involve subjective judgments and may not accurately reflect realizable value. The assumptions above are determined by the Manager and reviewed by our independent valuation advisor. A change in these assumptions or factors would impact the calculation of the value of our assets. For example, assuming all other factors remain unchanged, the changes listed below would result in the following effects on our asset values:

Input	Hypothetical Change	Portfolio Company Values
Weighted Average Cost of Capital	0.25% decrease		+0.58	%
	0.25% increase		-0.55	%

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