The clubs have settled on a fee of £27 million (S$47.6 million) plus £5 million in add-ons for the Belgian, who signed for Liverpool for about £32.5 million in July previous year.
The German will be hoping Benteke won't come back to haunt him as he pushes for a strong campaign on Merseyside.
"Benteke is someone I know very well as I wanted to take him to Newcastle. I could have done better, but I think I also needed some trust from the manager and the staff".
"I used to play a lot against Crystal Palace and when I came here with Aston Villa and Liverpool", he added.
Liverpool have finally reached agreement for the sale of Christian Benteke to Crystal Palace and opened the door for Danny Ings to depart Anfield.
Palace had more money to spend following the sale of Yannick Bolasie to Everton for £25m and Mile Jedinak to Aston Villa for £4m.
"That's something that didn't always happen at [his former club] Newcastle, unfortunately, so I'm pleased the board have been courageous with this move".
"We've lost two this week; massive figures in this club and you need to replace them with big figures".
Alan Pardew's side are in action on Saturday afternoon against Tottenham at White Hart Lane. "We'll have to be very, very good to get something there".
"His style of play, the way he feeds off crosses. we're the top crossing team in the Premier League bar one, I think".
"We were so unfortunate with that [late goal], but I can't fault my players today - they gave me everything", he told Sky Sports.