KKR & Co. Inc. - KKR STOCK NEWS

KKR, a global investment firm, has acquired an 18-property multifamily portfolio from Quarterra for approximately $2.1 billion. The portfolio includes over 5,200 units, primarily located in high-growth coastal and sunbelt markets such as California, Florida, and Texas. These properties are Class A assets, featuring modern amenities and efficient resource use. KKR highlights that the acquisition comes at a strategic time as commercial real estate markets show signs of recovery. This investment is managed through KKR-advised capital accounts, with operational support from Carter-Haston, MG Properties, and Dalan Real Estate.

KKR, a global investment firm, announced the acquisition of Superstruct Entertainment, a leading European live entertainment group, from Providence Equity Partners. Financial specifics were not disclosed.

Superstruct, founded in 2017, owns and operates over 80 music festivals in Europe and Australia, including Wacken Open Air, Defqon.1, and Sónar. Under KKR's support, Superstruct aims to further global growth and professionalize the fragmented live entertainment sector.

Providence retains an option to invest €250 million in Superstruct. KKR will leverage its expertise in digital entertainment and extensive network to support Superstruct's expansion.

KKR Income Opportunities Fund (NYSE: KIO) has declared monthly distributions of $0.1215 per share. Based on the current share price of $13.60, the distributions represent an annualized rate of 10.72%. The distribution dates for July, August, and September have been outlined, with payments set for the end of each month. The fund stresses that these distributions do not guarantee future results and may include various income sources such as capital gains or return of capital. Investors are advised to consider the fund's objectives, risks, and charges before investing.

KKR announced a monetization update for Q2 2024, reporting over $500 million in total realized performance and investment income from April 1 to June 20. The income comprises approximately 80% realized performance income and 20% realized investment income. These figures stem from secondary sales, strategic transactions, dividends, and interest income. However, this estimate does not predict total income for the quarter ending June 30, 2024, and may change with additional gains or losses.

Small business owners across America will compete for $175,000 in prize money and national exposure in SCORE's 60th Anniversary Pitch Competition. Founded in 1964, SCORE, the nation's largest network of volunteer business mentors, has helped over 17 million entrepreneurs. The competition will include in-person events in Philadelphia, Houston, Los Angeles, and Des Moines, as well as an online contest. Prizes range from $20,000 for first place to $5,000 for third place, funded by Global Atlantic Financial Group. SCORE is offering three free educational webinars to help participants prepare their pitches. The application deadline is July 31, 2024, and finalists will pitch live or virtually.

KKR released its 2024 mid-year global macro outlook, authored by Henry McVey, CIO of KKR’s Balance Sheet and Head of Global Macro and Asset Allocation. The report, titled ‘Opportunity Knocks,’ highlights the necessity of diversification and adaptability amidst anticipated economic volatility and political complexities in the second half of 2024.

Key points include stronger global employment, robust U.S. productivity, and a thriving global capex cycle. The team emphasizes a shift in the traditional stock-bond relationship, recommending more non-correlated assets and cautioning about portfolio volatility driven by stock-bond correlations. They foresee above-consensus GDP growth, sustained deficits, and resilient oil prices. McVey's unique insights cover asset allocation, energy supply-demand imbalances, and increased productivity and retraining demands.

The report also provides updated views on global growth, inflation, interest rates, and other market dynamics, addressing key investor concerns.

ST Telemedia Global Data Centres (STT GDC), KKR, and Singtel have announced a landmark investment of S$1.75 billion (~US$1.3 billion) by a KKR-led consortium in STT GDC. This transaction is the largest digital infrastructure investment in Southeast Asia to date in 2024. The investment will be made via Redeemable Preference Shares (RPS) with detachable warrants, potentially increasing to S$2.99 billion (~US$2.22 billion). The funds aim to bolster STT GDC’s market position and support its international expansion. ST Telemedia will remain the majority shareholder. STT GDC currently operates over 95 data centres across 11 geographies, with a total capacity of more than 1.7GW of IT load.

Edward Auriemma will join Körber on 08 July 2024 as the new CEO of its supply chain software business, a joint venture with KKR. Edward brings significant experience from his previous roles, including Chief Operating Officer at Blue Yonder, where he enhanced global operations and market standing, and Chief Operations Officer at Alight Solutions, leading them to a successful public listing on the NYSE (ALIT). Stephan Seifert, CEO of Körber Group, expressed enthusiasm for Edward's appointment, emphasizing his market knowledge and strategic growth capabilities. Edward aims to drive innovation and efficiency within Körber's supply chain software sector.

KKR, a major global investment firm, has made a significant minority investment in Quick Quack Car Wash, supporting its ongoing growth and expansion. Quick Quack, with over 230 locations across five U.S. states, will continue to be backed by its founders and Seidler Equity Partners. The investment aims to enhance Quick Quack's innovation, marketing, and market expansion.

KKR's Director, Sam Plotner, emphasized Quick Quack's strong growth record and robust operational model. CEO Jason Johnson expressed confidence in KKR's capability to support their mission. The partnership also includes a team member ownership program to boost employee engagement, reflecting KKR’s broader strategy. Financial advisories were provided by Goldman Sachs and William Blair, with legal counsel from O'Melveny & Myers for Quick Quack and Simpson Thacher & Bartlett for KKR.