A source with the knowledge of matter was quoted by Reuters as saying a federal filing on the settlement is expected to be announced as early as today.
The firms, however, did not admit any wrongdoing as part of the settlement, the source added.
KKR confirmed its settlement in a regulatory filing, but refused to disclose the settlement amount.
The company said in a statement: "While we continue to believe that the plaintiffs’ allegations are spurious, we determined that after seven years it was best for KKR and our limited partners to put an end to the distraction and expense of this litigation."
Meanwhile, Blackstone and TPG representatives declined to comment on the settlement reports.
While the settlement price remains undisclosed, Bloomberg reported that the companies have agreed to pay a combined $325m to resolve the charges.
The companies are among the 11 private equity firms accused of conspiring not to outbid each other in takeover, suppressing prices and depriving investors of billions of dollars before the 2008 financial crisis.
The lawsuit covered buyout deals for AMC Entertainment, Aramark, Freescale Semiconductor, Harrah’s Entertainment, HCA, Kinder Morgan, SunGard Data Systems, as well TXU, which totalled more than $100bn, as reported earlier by the news agency.
Goldman Sachs, Bain Capital, and Silver Lake Partners have already agreed to pay $67m, $54m, and $29.5m, respectively, to settle the lawsuit, while Apollo Global Management, Providence Equity Partners, JPMorgan Chase, and Thomas H. Lee Partners were dismissed from the case.
Carlyle Group is the only private equity firm still facing trial, which is scheduled for 3 November.
Carlyle spokesman Chris Ullman said in a statement: "These claims are without merit and we will continue to vigorously contest the allegations."
Image: Blackstone Group has reportedly agreed to settle the long-pending collusion lawsuit along with KKR and TPG Capital. Photo: courtesy of Americasroof (talk).
