Yesterday, December 19th 2013, Microsoft made the Linux Integration Services Version 3.5 for Hyper-V available for download.

The Linux Integration Services (LIS) package downloaded from Microsoft  is meant to deliver support older Linux distros. In the most recent Linux distros the KVP component is to be included, as are the other Hyper-V related drivers. In these distros these drivers and components are to be part of the upstream Linux kernel, and as such are included in Linux distros releases. So you should not need this download if you run these newer distros that has the LIS built-in. The list of supported distros is slowly growing.

If you are running (or need to run) older versions of Linux in your VMs and leverage the 100% fully featured Hyper-v Server 2012 R2 that is also 100% free of charge this is your way to leverage all those features. The aim is that you’re never a left behind when running Hyper-V (within the limits of supportability, DOS 6.0, NT 4.0 or Windows 2000 is not an acceptable OS today).

In Microsoft speak:

Hyper-V supports both emulated (“legacy”) and Hyper-V-specific (“synthetic”) devices for Linux virtual machines. When a Linux virtual machine is running with emulated devices, no additional software is required to be installed. However, emulated devices do not provide high performance and cannot leverage the rich virtual machine management infrastructure that the Hyper-V technology offers.

To make full use of all benefits that Hyper-V provides, it is best to use Hyper-V-
specific devices for Linux. The collection of drivers that are required to run Hyper-V-specific devices is known as Linux Integration Services (LIS).
 
For certain older Linux distributions, Microsoft provides an ISO file containing installable LIS drivers for Linux virtual machines. For newer Linux distributions, LIS is built into the Linux operating system, and no separate download or installation is required. This guide discusses the installation and functionality of LIS drivers on older Linux distributions.

For some extra info an tips see Enabling Linux Support on Windows Server 2012 R2 Hyper-V