**Exhibit 31.2**

 

***ChiefFinancial Officer Certification of the Quarterly Financial Statements***

*** ***

I, **David A. Netjes,** certify that:

 

1.    I have reviewed this quarterly report onForm 10-Q for the quarter ended March 31, 2006 of KKR Financial Corp.(the “Corporation”);

 

2.    Based on my knowledge, this report does notcontain any untrue statement of a material fact or omit to state a materialfact necessary to make the statements made, in light of the circumstances underwhich such statements were made, not misleading with respect to the periodcovered by this report;

 

3.    Based on my knowledge, the financialstatements, and other financial information included in this report, fairlypresent in all material respects the financial condition, results of operationsand cash flows of the Corporation as of, and for, the periods presented in thisreport;

 

4.    The Corporation’s other certifying officerand I are responsible for establishing and maintaining disclosure controls andprocedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))for the Corporation and have:

 

(a)          Designed such disclosure controls andprocedures, or caused such disclosure controls and procedures to be designedunder our supervision, to ensure that material information relating to theCorporation, including its consolidated subsidiaries, is made known to us byothers within those entities, particularly during the period in which thisreport is being prepared;

 

(b)         Evaluated the effectiveness of theCorporation’s disclosure controls and procedures and presented in this reportour conclusions about the effectiveness of the disclosure controls andprocedures, as of the end of the period covered by this report based on suchevaluation; and

 

(c)          Disclosed in this report any change inthe Corporation’s internal control over financial reporting that occurredduring the Corporation’s most recent fiscal quarter that has materiallyaffected, or is reasonably likely to materially affect, the Corporation’sinternal control over financial reporting; and

 

5.    The Corporation’s other certifying officerand I have disclosed, based on our most recent evaluation of internal controlover financial reporting, to the Corporation’s auditors and the audit committeeof the Corporation’s Board of Directors:

 

(a)          All significant deficiencies andmaterial weaknesses in the design or operation of internal control overfinancial reporting which are reasonably likely to adversely affect theCorporation’s ability to record, process, summarize and report financialinformation; and

 

(b)         Any fraud, whether or not material,that involves management or other employees who have a significant role in theCorporation’s internal controls over financial reporting.

 

Date: May 10, 2006

 
|            |       | /s/ DAVID A. NETJES                                                                                                      |
|------------|------------|--------------------------------------------------------------------------------------------------------------------------|
| ** ** | ** ** | **David A. Netjes   Chief Financial Officer and Chief Operating Officer   (Principal Financial and Accounting Officer)** |

 

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