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FORM 5500 DATA

Kirkland & Ellis LLP Defined Contribution 401k Savings Plan

Overview

Plan Information

  • Plan Year01/01/2016 — 12/31/2016
  • Date of Plan11/01/1984
  • Net Assets as of 12/31/2016 $1,057,156,632
  • Plan Number3
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2016

  • Active (Eligible) Participants2,997
  • Retired or separated participants receiving benefits24
  • Other retired or separated participants entitled to future benefits1,777
  • Subtotal4,798
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits7
  • Total4,805
  • Total number of participants as of 01/01/20164,465
  • Number of participants with account balances4,737
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address300 North Lasalle Street
  • CityChicago
  • StateIL
  • Zip60654-3406
  • Telephone(312) 862-2000
  • EIN36-1326630
  • Industry Code541110
  • Named AdministratorTodd Maynes

Plan Administrator Information

  • Administrator NameKirkland & Ellis LLP Benefits Committee
  • Address300 North Lasalle Street
  • CityChicago
  • StateIL
  • Zip60654-3406
  • Telephone(312) 862-2000
  • Administrator EIN36-2874412

Audit Information

  • Audit StatusAudited
  • AuditorPricewaterhousecoopers
  • Auditor EIN13-4008324
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3B Self-Employed Plan Plan covering Self-Employed individuals.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $10,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $148,669,231
Contributions $69,799,362
Cash Contributions $69,799,362
Cash from Employers $31,590,081
Cash from Participants $32,495,688
Others (including rollovers) $5,713,593
Noncash Contributions $0
Total Earnings on Investments $78,869,869
Total Interest $424,429
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $424,429
Interest from Other Investments $0
Total Dividends $19,924,317
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $17,368
Aggregate Proceeds $0
Aggregate Carrying Amount $-17,368
Total Unrealized Appreciation (depreciation) of assets $330,452
Real Estate $0
Other $330,452
Net investment gain (loss) from common/collective trusts $13,156,090
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $45,017,213
Other Income $0
Expenses $46,879,028
Total Benefit Payments $46,710,495
Directly to participants or beneficiaries, including direct rollovers $46,710,461
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $34
Corrective Distributions $5,906
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $162,627
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $162,627
Net Income $101,790,203
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2016 12/31/2015 Change YOY
Total Assets $1,057,156,632 $955,366,429 10.65%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $31,590,081 $31,299,130 0.93%
Employer Contributions $31,590,081 $31,299,130 0.93%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $10,640,288 $11,355,703 -6.30%
Preferred $0 $0 0.0%
Common $10,640,288 $11,355,703 -6.30%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $9,711,552 $9,651,013 0.63%
Value of interest in common/collective trusts $346,414,801 $16,417,821 2009.99%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $658,799,910 $886,642,762 -25.70%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $1,057,156,632 $955,366,429 10.65%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • The Vanguard Group, Inc.

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
The Vanguard Group, Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.), Trustee (directed), Investment advisory (participants), Participant loan processing, Investment management fees paid indirectly by plan NONE $181,067 $0 $181,067
Total $181,067 $0 $181,067

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
The Vanguard Group, Inc. Franklin Templton Distributors, Inc Other fees 15 Bps $0
The Vanguard Group, Inc. Dodge & Cox Other fees 10 Bps $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Vanguard Target Ret. 2035 Trust II Vangaurd Fiduciary Trust Company DFE: Common/Collective Trust $70,483,691
Vanguard Target Ret. 2040 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $55,202,087
Vanguard Target Ret. 2045 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $50,478,784
Vanguard Target Ret. 2025 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $36,870,767
Vanguard Target Ret 2030 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $36,645,542
Vanguard Target Ret. 2020 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $26,751,561
Vanguard Target Ret. 2050 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $21,105,589
Vanguard Ret Savings Trust III Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $19,121,655
Vanguard Target Ret. 2015 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $12,506,637
Vanguard Target Ret. 2055 Trust II Vangaurd Fiduciary Trust Company DFE: Common/Collective Trust $6,170,158
Vanguard Target Ret. Income Trust I Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $5,590,562
Vanguard Target Ret. 2010 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $2,262,621
Vanguard Target Ret. 2060 Trust II Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $2,075,151
Total $345,264,805

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.