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KKR & Co. Inc. (NYSE: KKR), founded in 1976 by Henry Kravis and George Roberts, is a leading global investment firm managing investments across various asset classes such as private equity, energy, infrastructure, real estate, credit, and hedge funds. Headquartered in New York, KKR aims to generate attractive investment returns through a patient and disciplined investment approach, employing world-class talent, and driving growth and value creation at the asset level.
As of March 2023, KKR boasts an impressive $577.6 billion in total managed assets, which includes $470.6 billion in fee-earning assets under management (AUM). KKR operates through two primary segments: Asset Management and Insurance. The Asset Management segment involves private markets (private equity, credit, infrastructure, energy, and real estate) and public markets (primarily credit and hedge/investment fund platforms). The Insurance segment follows KKR's acquisition of Global Atlantic Financial Group, focusing on retirement, annuity, life insurance, and reinsurance products.
KKR invests its own capital alongside its partners' capital, offering opportunities through its capital markets business. The firm's commitment to excellence and growth is evident in its strategic partnerships and significant investments, such as its recent venture with Capital Group to introduce hybrid public-private market investment solutions designed to provide broader access to alternative investments.
In recent news, KKR announced significant developments, including a strategic partnership with Capital Group and a $600 million cash acquisition of Mirus Bio by Gamma Biosciences, a life sciences platform established by KKR.
- Latest News: FS KKR Capital Corp. declared a second-quarter 2024 distribution of $0.75 per share.
- Strategic Partnerships: KKR and Capital Group join forces to create hybrid public-private market investment solutions.
- Acquisitions: Gamma Biosciences, backed by KKR, agreed to sell Mirus Bio to Merck KGaA for $600 million.
For more information, visit KKR's website or follow them on Twitter: @kkr_co.
KKR, a global investment firm, has announced amendments to its tender offer for FUJI SOFT INCORPORATED (TSE: 9749) through FK Co., The key changes include:
1. Removal of the minimum number of shares to be purchased in the initial tender offer.
2. Commencement of a second tender offer after the completion of the initial one.
3. Unchanged tender offer price of 8,800 yen for both offers.
Two major shareholders, 3D Investment Partners (23.46%) and Farallon (9.22%), have already tendered their shares and will not withdraw without the Offeror's consent. This amended scheme aims to provide more options and clarity for minority shareholders, allowing them to tender their shares in either stage at the same price.
Global Atlantic Financial Group has appointed Emily LeMay and Jason Bickler as Co-Heads of Individual Markets, reporting to Co-President Rob Arena. This new dual leadership model aims to enhance the company's capabilities in serving clients and policyholders.
LeMay, with over 20 years of industry experience, previously served as Chief Operations Officer, leading a transformation of the Individual Markets business operating model. Bickler, bringing 35 years of sales and distribution experience, has been the architect of Global Atlantic's multi-product, solutions-based distribution model as Chief Distribution Officer.
The Individual Markets business has seen significant growth since its formation in 2014, becoming a market leader in annuity and preneed solutions. This leadership change is expected to drive the business forward, building on Global Atlantic's leading position in partnership with KKR.
KKR, a leading global investment firm, has announced the launch of a tender offer for FUJI SOFT INCORPORATED (TSE: 9749) through FK Co., The tender offer period will run from September 5, 2024, to October 21, 2024, with a price of JPY 8,800 per share. FUJI SOFT's Board of Directors has expressed support for the offer and recommends shareholders and option holders to tender their shares and options.
FUJI SOFT is a leading Japanese system integrator specializing in embedded, control, and operational software and systems. The company aims to become a leading provider in both IT and OT fields under its "Mid-Term Business Plan 2028". The tender offer will be primarily financed by KKR Asian Fund IV.
KKR, a leading global investment firm, announced that Raj Agrawal, Partner and Global Head of Infrastructure, will present at the Barclays Global Financial Services Conference on September 9, 2024, at 9:45 AM ET. A live webcast will be available on KKR's website, with a replay accessible shortly after the event.
KKR offers alternative asset management, capital markets, and insurance solutions. The firm sponsors investment funds in private equity, credit, and real assets, and has strategic partners managing hedge funds. KKR's insurance subsidiaries, under Global Atlantic Financial Group, provide retirement, life, and reinsurance products.
KKR, a leading global investment firm, has completed the acquisition of Varsity Brands from Bain Capital and Charlesbank. Varsity Brands, a leader in team sports, athletics, and spirit, serves over 8 million athletes and students annually, offering customized solutions to more than 150,000 customers. The company has strong relationships with iconic athletic brands and is a leading organizer of cheerleading competitions.
KKR aims to support Varsity Brands' growth strategy and mission to serve sports teams, schools, and student-athletes. The acquisition includes plans to implement a broad-based equity ownership program for all employees. Varsity Brands recently launched SURGE, an initiative to empower girls in sports, and offers the IMPACT School Partnership Program to enhance school pride and student engagement.
KKR, a leading global investment firm, has acquired a portfolio of six Class A industrial logistics properties across major U.S. markets for approximately $377 million. The properties, with an average vintage of 2014, feature 35-foot average clear heights and are 100% leased to high-quality tenants. Located in strategic infill submarkets in Seattle, Atlanta, Philadelphia, New Jersey, and the San Francisco Bay Area, these warehouses are designed to meet modern logistics needs.
This acquisition adds approximately two million square feet to KKR's industrial portfolio, bringing their total U.S. warehouse acquisitions to nearly six million square feet since the start of the year. The investment aligns with KKR's strategy of acquiring well-positioned, high-quality assets in locations with diverse demand drivers and accommodative labor forces.
Global Atlantic Financial Group has been featured in Barron's 100 Best Annuities Guide for the third consecutive year. The company's subsidiary, Forethought Life Insurance Company, was recognized in four categories: Deferred-Income Annuities, Fixed-Indexed Annuity Income Guarantees, Registered Index-Linked Annuities (RILA), and Fixed-Indexed Annuities.
The highlighted products include:
- ForeCertain Income Annuity
- ForeIncome II Fixed Index Annuity
- ForeAccumulation II Advisory Fixed Index Annuity
- ForeStructured Growth Registered Index-Linked Annuity
These annuities offer various features, from guaranteed lifetime income to growth potential with market protection. Global Atlantic emphasizes its commitment to providing innovative retirement solutions that cater to different individual needs and goals.
KKR, a leading global investment firm, has announced plans for a tender offer to acquire all outstanding shares of FUJI SOFT INCORPORATED, a prominent Japanese system integrator. The offer, made through KKR's entity FK Co., , proposes a price of JPY 8,800 per share, representing a significant premium over recent stock prices. The transaction, primarily financed by KKR's Asian Fund IV, is expected to commence in the second half of 2024, subject to regulatory approvals.
FUJI SOFT, with a team of over 10,000 system engineers, specializes in embedded, control, and operational software and systems. The acquisition aligns with FUJI SOFT's five-year plan to become a leading provider in IT and operational technology fields. KKR aims to leverage its global platform and industry expertise to accelerate FUJI SOFT's growth and enhance value for Japanese businesses.
KKR has announced the acquisition of WPP's full equity position in FGS Global, valuing the company at $1.7 billion. This move builds on KKR's initial minority investment in July 2023 and is supported by FGS management. The transaction will result in FGS becoming a standalone communications and public affairs consultancy, with over 500 employee shareholders holding approximately 26% equity interest.
KKR's investment, made primarily through its European Fund VI, aims to support FGS's long-term growth and extend its position as a leading global advisor to Boards and C-suites. The existing FGS leadership team will continue to manage the partner-led firm, with KKR committed to maintaining FGS's independence and client confidentiality standards.
The deal is expected to close by the end of the year, subject to regulatory approvals and customary closing conditions.
FS KKR Capital Corp. (NYSE: FSK) announced its Q2 2024 results and declared a Q3 2024 distribution of $0.70 per share. Key highlights include:
- Net investment income of $0.77 per share
- Adjusted net investment income of $0.75 per share
- Net asset value of $23.95 per share
- Total net realized and unrealized loss of $0.39 per share
- Earnings per Share of $0.37
- Total purchases of $1,260 million vs $1,336 million of sales and repayments
- Net debt to equity ratio at 109%
The company's total fair value of investments was $14.1 billion, with 66% invested in senior secured securities. The weighted average annual yield on accruing debt investments was 12.3%. FSK's board expects to distribute a minimum of $2.90 per share during 2024.
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