KKR & Co. Inc. - KKR STOCK NEWS

KKR has announced the final closing of KKR Real Estate Partners Americas III (REPA III), a $4.3 billion fund focused on opportunistic real estate investments in the U.S. This successor to REPA II, which was raised at $2 billion in January 2018, displays strong backing from diverse global investors. KKR's real estate strategies now manage over $8 billion globally. The firm has expanded its dedicated real estate team to around 130 professionals, managing $33 billion in assets as of June 30, 2021. This milestone reflects KKR's growth in real estate investment since its strategy launch in 2011.

KKR has announced its acquisition of a majority stake in Probe CX, a leading customer experience and business process outsourcing provider. This strategic investment aims to enhance Probe's growth and digital capabilities. Founded in 1979, Probe services over 600 clients globally with a workforce of 15,000 across 33 offices. KKR's expertise in the CX sector will support Probe's expansion, leveraging its experience from previous successful investments. The transaction is expected to conclude by the end of 2021, pending regulatory approvals.

KKR has launched India’s first renewable energy infrastructure investment trust, Virescent Renewable Energy Trust (VRET), raising INR4.6 billion (approximately US$62 million) from various investors led by AIMCo. VRET, with a dual ‘AAA’ credit rating, aims to acquire renewable assets, initially encompassing nine solar projects with a capacity of 395 MWp. Furthermore, VRET is in talks to acquire an additional 55 MWp from Focal Energy. This move aligns with India’s goal of achieving 60% renewable energy capacity by 2030.

KKR reports a monetization update for July 1 to September 23, 2021, revealing over $800 million in gross realized carried interest and investment income. About 50% of this figure is from each category, primarily due to strategic sales and dividends from its portfolio. KKR emphasizes that this estimate does not project total revenues for Q3 2021 or the full year, as it excludes other income sources. The firm continues to focus on generating attractive investment returns through its disciplined investment strategies.

KKR has completed a significant investment in a joint venture with WS Development and PSP Investments for a new life science tower at 400 Summer Street in Boston's Seaport District. This 16-story building will be 635,000 square feet and serve as the headquarters for Foundation Medicine, which has fully leased the space. KKR's investment strategy focuses on high-quality life science properties, and this venture reinforces its presence in major U.S. biotech hubs, alongside a recent acquisition in San Francisco. The project underscores KKR's commitment to growth in the life sciences sector.

KKR Real Estate Select Trust Inc. (KREST) has acquired a 1.1 million square-foot Class A industrial warehouse in McDonough, Georgia, from PNK Group. The property features a 40-foot clear height and is fully leased to two high-quality tenants for an average lease term of 10 years. KREST aims to diversify its industrial portfolio and sees Atlanta as a strategic market, driven by e-commerce growth. This acquisition adds to KREST's holdings, which now total over 2.5 million square feet in high-growth areas. KKR's real estate assets under management amount to approximately $32 billion.

KKR has announced the acquisition of five self-storage properties across Atlanta, Phoenix, and Orlando for approximately $92 million. These properties, totaling around 3,884 units, were acquired in separate transactions from two different sellers. The strategic locations in high-growth metropolitan areas are expected to strengthen KKR's presence in the self-storage sector, which is experiencing strong demand. This investment aligns with KKR's commitment to expanding its self-storage portfolio, enhancing its real estate assets under management, which have grown to approximately $32 billion.

KKR has entered a joint venture with Cornerstone Companies to acquire and develop a diversified portfolio of healthcare properties across the U.S. The initiative is seeded with the recapitalization of 25 properties, totaling 713,705 square feet, valued over $1 billion. The properties are leased to reputable healthcare systems and practices, establishing a strong foundation for future acquisitions. This partnership aims to enhance investment solutions and capitalize on KKR's extensive experience in healthcare and real estate.

KKR has agreed to sell Riata Corporate Park for over $300 million to a global institutional investor. The transaction is expected to close soon. Riata is an 688,100 square foot Class A office campus located in the Austin Technology Corridor, fully leased by reputable tenants, including public companies. Since acquiring Riata in December 2019, KKR has invested in property improvements and maintenance. KKR has significantly grown its real estate assets under management, reaching approximately $32 billion as of June 30, 2021.