Welcome to our dedicated page for KKR & Co. news (Ticker: KKR), a resource for investors and traders seeking the latest updates and insights on KKR & Co. stock.
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.
Nucor Corporation has completed its acquisition of C.H.I. Overhead Doors from KKR for $3.0 billion. C.H.I. is a prominent manufacturer of overhead doors for residential and commercial markets in the U.S. and Canada. The acquisition aims to leverage C.H.I.’s growth potential and align with Nucor’s operational capabilities. C.H.I. operates two manufacturing plants in Illinois and Indiana, employing approximately 800 people. Nucor’s CEO expressed enthusiasm for integrating C.H.I. into their operations to enhance business collaboration and supply chain continuity.
KKR reported earnings from monetization activities from
KKR has partnered with Andrew K. Silvernail, former Chairman and CEO of Madison Industries and IDEX Corporation, to explore acquisition opportunities in the Americas. Silvernail will serve as an Executive Advisor, focusing on sectors like industrials and healthcare. He brings over 20 years of experience and a proven track record of shareholder returns. KKR plans to leverage his leadership to enhance operational performance and implement an employee ownership program. KKR's strategy includes investing in middle market businesses, furthering its commitment to shared ownership models.
KKR has released its 2022 mid-year outlook by CIO Henry McVey, who emphasizes a shift in the macroeconomic narrative impacting corporate profits. Notably, McVey projects a 5% contraction in S&P 500 earnings per share for 2023, contrasting with the consensus of 9% growth. The firm expects prolonged high oil prices and persistent inflation pressures shifting from goods to services. Key investment themes include pricing power, collateral-based cash flows, and the energy transition, projected to be a $1.5-2.0 trillion annual growth opportunity.
KKR has published its COVID-19 Relief Effort Progress Report, detailing over $50 million in community funding for small businesses and nonprofits impacted by the pandemic. Key initiatives include the KKR Small Business Builders and KKR Grants programs, which awarded $32 million to nonprofits and provided $10,000 grants to 278 small business owners. The report highlights support provided to over 20 million people across 19 countries.
KKR & Co. has appointed Raymond J. McGuire to its Board of Directors, effective June 15, 2022. This appointment increases the number of independent directors to 13 out of 17 board seats. McGuire, a former Vice Chairman at Citigroup, brings extensive leadership experience, having also served as the Global Head of Corporate and Investment Banking there. This change is aimed at enhancing board diversity and expertise, reflecting KKR's commitment to strong governance.
Level Access and eSSENTIAL Accessibility have announced a merger to create a comprehensive digital accessibility solution for businesses and organizations. This strategic combination aims to empower organizations to enhance accessibility for people with disabilities. The merger, expected to complete by mid-2022, will leverage the expertise of both companies to provide improved accessibility services. KKR and JMI Equity will continue to support the combined entity's growth. The headquarters will be in Arlington, Virginia, with significant operations in Toronto and Argentina.
Global Atlantic Financial Group has launched a multi-year partnership with the National Forest Foundation, committing up to $500,000 in donations through 2025 for tree-planting and reforestation programs. This includes annual grants of $50,000 and additional funds for each policyholder opting for e-delivery, potentially totaling $300,000. The initiative aims to enhance forest health and raise environmental awareness among policyholders. The donations reflect Global Atlantic's dedication to corporate responsibility and environmental sustainability.
Global Atlantic Financial Group, a prominent financial services firm and majority-owned subsidiary of KKR, announced a significant asset-intensive flow reinsurance transaction with a leading insurance company in Singapore. This deal follows a previous $4.8 billion block reinsurance transaction with AXA Hong Kong in July 2021. Global Atlantic has now reinsured approximately $75 billion of assets since its founding in 2004. Co-President Manu Sareen highlighted the company’s client-centric approach and potential for future capital deployment in the Asia-Pacific region.
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