***Exhibit 31.2   Chief Financial OfficerCertification of the Quarterly Financial Statements***

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

1.     I havereviewed this quarterly report on Form 10-Q for the quarter ended September 30,2005 of KKR Financial Corp. (the “Corporation”);

2.     Based onmy knowledge, this report does not contain any untrue statement of a materialfact or omit to state a material fact necessary to make the statements made, inlight of the circumstances under which such statements were made, notmisleading with respect to the period covered by this report;

3.     Based onmy knowledge, the financial statements, and other financial informationincluded in this report, fairly present in all material respects the financialcondition, results of operations and cash flows of the Corporation as of, andfor, the periods presented in this report;

4.     TheCorporation’s other certifying officer and I are responsible for establishingand maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and15d-15(e)) for the Corporation and have:

(a)    Designedsuch disclosure controls and procedures, or caused such disclosure controls andprocedures to be designed under our supervision, to ensure that materialinformation relating to the Corporation, including its consolidatedsubsidiaries, is made known to us by others within those entities, particularlyduring the period in which this report is being prepared;

(b)   Evaluatedthe effectiveness of the Corporation’s disclosure controls and procedures andpresented in this report our conclusions about the effectiveness of thedisclosure controls and procedures, as of the end of the period covered by thisreport based on such evaluation; and

(c)    Disclosedin this report any change in the Corporation’s internal control over financialreporting that occurred during the Corporation’s most recent fiscal quarterthat has materially affected, or is reasonably likely to materially affect, theCorporation’s internal control over financial reporting; and

5.     The Corporation’sother certifying officer and I have disclosed, based on our most recentevaluation of internal control over financial reporting, to the Corporation’sauditors and the audit committee of the Corporation’s board of directors:

(a)    Allsignificant deficiencies and material weaknesses in the design or operation ofinternal control over financial reporting which are reasonably likely toadversely affect the Corporation’s ability to record, process, summarize andreport financial information; and

(b)   Any fraud,whether or not material, that involves management or other employees who have asignificant role in the Corporation’s internal controls over financialreporting.

Date: November 14, 2005

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

 

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