KKR & Co. Inc. - KKR STOCK NEWS

On May 24, 2021, FS/KKR Advisor announced that shareholders of FS KKR Capital Corp. (FSK) and FS KKR Capital Corp. II (FSKR) approved the merger during special meetings held on May 21, 2021. The merger, expected to close around June 16, 2021, will create a single entity with approximately $15 billion in assets. The combined company will benefit from a diversified investment portfolio and an enhanced capital market presence. Post-merger, shareholders of FSKR will receive shares of FSK equivalent to the NAV of their holdings, with distributions planned for early July 2021.

The White House has issued an Executive Order aimed at enhancing the nation’s cybersecurity in response to recent cyberattacks. This order is intended to modernize cybersecurity standards and promote collaboration between public and private sectors. Optiv Security is hosting a free virtual panel to discuss the order's implications on compliance, data security, and incident response. The panel, featuring Optiv's top leaders, will take place on May 21 at 1 p.m. ET. For more information, visit www.optiv.com.

KKR has launched KKR Real Estate Select Trust Inc. (KREST), a registered closed-end fund focused on income-generating commercial real estate and private real estate debt. KREST aims to enhance accessibility for individual investors, offering daily reporting of NAV and efficient REIT tax treatment. With over $150 million invested from KKR's balance sheet, the fund provides a deployed portfolio at launch. KREST is positioned as a continually offered, 1940 Act REIT designed to diversify portfolios in a low-interest rate environment. The initiative represents a significant step in expanding investor access to private real estate opportunities.

On May 18, 2021, KKR announced the successful acquisition of a majority stake in Therapy Brands, a prominent practice management and EHR software platform for healthcare providers. This acquisition aims to enhance the delivery of mental and behavioral health services across the U.S. KKR's investment, primarily from its Americas XII Fund, is expected to leverage its expertise in scaling technology platforms to improve Therapy Brands' offerings and operational efficiency. The deal involved PSG, an existing investor, remaining a minority shareholder. Financial details were not disclosed.

Lenskart, a leading omni-channel eyewear retailer in India, has signed a definitive agreement for KKR to invest US$95 million in the company through a secondary stake acquisition. This investment aims to enhance Lenskart's growth both domestically and internationally, leveraging KKR's experience in technology and the eyewear industry. Lenskart currently serves over 7 million customers annually through its extensive network of stores and digital platforms, and aims to make eyewear accessible to all. The partnership represents a significant step towards Lenskart's ambition of having 50% of India wear its eyewear within five years.

FS KKR Capital Corp. II (FSKR) reported a net investment income of $97 million or $0.57 per share for Q1 2021, compared to $0.59 per share in Q4 2020. The net asset value increased to $25.33 per share from $25.10 as of December 31, 2020. Despite a total net realized and unrealized gain dropping to $0.21 per share from $0.35, the company maintained a consistent cash distribution of $0.55 per share. The net debt to equity ratio improved to 74% from 85% in the previous quarter.

KKR has signed a definitive agreement to invest in Charter Next Generation (CNG), a top producer of specialty films for flexible packaging. KKR will co-own the business with Leonard Green & Partners and a subsidiary of the Abu Dhabi Investment Authority. CNG focuses on innovative, sustainable packaging solutions that reduce food waste, which is a growing concern in light of food insecurity in the U.S. and global greenhouse gas emissions. CNG's films are designed for safety and sustainability, enhancing shelf life while being recyclable.

KKR released a new Insights report titled Testing the Limits of Reflation by Henry McVey, focusing on macroeconomic conditions and their implications for investors. McVey expresses confidence in a strong global recovery, supporting KKR's investment thesis for 2021. Key updates include an earnings forecast upgrade for the S&P 500, a conservative interest rate outlook due to rapid growth and spending, and a maintained attractive real rates environment through 2022. The report suggests a need for innovative macro and asset allocation strategies moving forward.