Global buyout major KKR has said it is “deeply saddened” by the disappearance of K.G. Siddharth, the promoter of its investee company, the coffee chain Cafe Coffee Day, since Monday evening. In a purported letter sent to the company board and the employees of the coffee chain he founded, Siddharth had on July 27 said he was under pressure from one of the private equity partners to buy back shares.

KKR in a statement Tuesday said it had invested in the popular coffee chain nine years ago and part-exited the investment last year. The fund statement added that it continues to hold about 6 per cent in the company, now down from 10.3 per cent earlier.

“We are deeply saddened by the developments and our thoughts are with his family at this time. We believe in V.G. Siddhartha and had invested in the company about nine years ago,” KKR said in a statement.

Meanwhile, mortgage major HDFC denied it has any exposure to any of the companies associated with Siddhartha. “HDFC had disbursed lease rental discounting loans to Tanglin Developments (CCD) for its project Global Village Tech Park in Bangalore. The entire loan was repaid in January 2019 and has no exposure to the Coffee Day Enterprises group as on date,” an HDFC spokesperson said.

Karnataka Bank on Tuesday said it has no exposure to Coffee Day Enterprises, though the company’s global unit has an outstanding loan of Rs 152 crore.