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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 has announced an agreement to acquire a majority stake in Agiloft, a leader in data-first contract lifecycle management (CLM). Existing investor FTV Capital will also invest additional capital, and JMI Equity will join as a new investor. This investment aims to help Agiloft expand its market share, innovate new product solutions, and enhance customer success. Agiloft's platform supports various departments by providing a comprehensive view of contract phases and integrating with other software systems for increased efficiency. The transaction includes a broad-based employee ownership program to boost engagement and performance.
KKR is set to acquire Emera’s minority equity interest in the Labrador Island Link (LIL) project, a key clean energy transmission line.
The transaction is valued at $1.19 billion CAD, consisting of $957 million CAD in cash and $235 million CAD in assumed capital obligations.
This move will enable Emera to reduce its corporate debt and invest in its regulated utility businesses.
The deal is expected to close by June 4, 2024. KKR will receive quarterly distribution payments from LIL over the remaining life of the 50-year contract.
Emera will continue to provide capital investments for LIL’s operations while maintaining ownership of the Maritime Link transmission line.
KKR aims to strengthen its investment in essential transmission assets like LIL, which is important for delivering clean energy to Newfoundland, Nova Scotia, and beyond.
KKR announced that its Chief Financial Officer, Robert H. Lewin, will present at the Morgan Stanley US Financials, Payments & CRE Conference 2024 on June 10, 2024, at 9:30 AM ET.
The presentation will be available via live webcast on KKR's Investor Center website, with a replay accessible shortly after.
KKR, a leading global investment firm, specializes in alternative asset management, capital markets, and insurance solutions.
The firm sponsors investment funds in private equity, credit, and real assets, and manages retirement, life, and reinsurance products through its insurance subsidiaries.
Gamma Biosciences announced the sale of its operating company, Mirus Bio, to Merck KGaA, Darmstadt, Germany, for $600 million in cash. The sale is expected to be completed in Q3 2024, pending regulatory approvals. Mirus Bio, acquired by Gamma in 2021, specializes in transfection solutions for genetic material delivery into cells, with applications in cell and gene therapy. Gamma's CEO, Matt Gunnison, praised Mirus' progress and expressed confidence in Merck's ability to continue this trajectory. Dale Gordon, CEO of Mirus Bio, highlighted the strengthening position in the market and future expansion under Merck. KKR representatives also emphasized their strategic growth in the life sciences sector.
On May 23, 2024, Capital Group and KKR announced an exclusive strategic partnership to develop hybrid public-private investment solutions. The collaboration aims to provide mass affluent investors with access to alternative investments, historically reserved for high-net-worth individuals. The first two strategies, focusing on public-private fixed income, are slated for a 2025 U.S. launch. Capital Group oversees $2.6 trillion, with $500 billion in public fixed income, while KKR manages over $500 billion in assets, including $200 billion in credit. This partnership leverages Capital's active management and KKR's private market expertise to create more liquid investment strategies. The global assets in alternatives are projected to grow 12% annually over the next decade.
KKR has announced the pricing of ¥91.4 billion in senior notes, split across five tranches with varying maturity dates and interest rates. The largest tranche, ¥44.6 billion, is due in 2029 with a 1.559% interest rate. Smaller tranches include ¥1 billion due in 2031 at 1.762%, ¥26.2 billion due in 2034 at 2.083%, ¥10 billion due in 2044 at 2.719%, and ¥9.6 billion due in 2054 at 3.008%. KKR intends to use the proceeds for general corporate purposes. The offering is targeted at qualified institutional buyers in the U.S. and international buyers, complying with Rule 144A and Regulation S under the Securities Act of 1933. The notes are unregistered and cannot be sold in the U.S. without proper registration or exemption. This announcement follows Rule 135c guidelines.
KKR has announced its first Global Impact investment in the Philippines with an investment in PHINMA Education. PHINMA Education is a major private higher education group in Southeast Asia, aiming to provide affordable education to underserved youth. KKR's investment comes from its Global Impact Fund II, aligning with the UN's Sustainable Development Goals, specifically SDG 4 (Quality Education). PHINMA will remain the majority shareholder. The investment aims to scale PHINMA's operations and reach more students in the region. The transaction is expected to close in Q3 2024, pending regulatory approval.
Vitesse has secured $93M in Series C funding led by KKR, with participation from existing investors such as Hannover Digital Investments. This new funding will support product development and enhance connectivity across the insurance value chain, accelerating Vitesse's mission to revolutionize global payments and treasury management.
Additionally, Curt Hess has been appointed as US Executive President, bringing extensive experience from his prior roles at 10x Banking and Barclays. This move signifies Vitesse's commitment to expanding in the US market. With a team of 177 employees, Vitesse aims to enhance its global payments network, providing real-time management and capital safeguarding for stakeholders in the insurance industry.
The investment will also see Patrick Devine from KKR joining Vitesse's board of directors. KKR's investment is made through its Next Generation Technology Growth Fund III, reflecting their strategic focus on the global insurance industry.
KKR, a global investment firm, has acquired a significant minority stake in Infinx, an AI-driven healthcare revenue cycle solutions provider. This investment aims to accelerate Infinx's growth and expand its network. Existing shareholder Norwest Venture Partners also participated. Infinx, founded in 2012, offers innovative revenue cycle management solutions, particularly in the US market, supporting 172,000 healthcare professionals across 4,000 facilities. Infinx's platform utilizes AI, automation, and payer integration. The US healthcare market is valued at $4.3 trillion, comprising over 18% of the GDP. In 2023, Infinx was recognized as a top RCM vendor by Everest Group and Black Book Research. KKR's support is expected to enhance Infinx's capabilities and market reach.
KKR announced that CFO Robert H. Lewin will present at the TD Financial Services & Fintech Summit on June 6, 2024, at 8:35 AM ET. The presentation will be accessible via a live webcast on KKR's Investor Center website, with a replay available shortly after. KKR is a global investment firm offering alternative asset management, capital markets, and insurance solutions. KKR sponsors investment funds in private equity, credit, and real assets, and its insurance subsidiaries, managed by Global Atlantic Financial Group, offer retirement, life, and reinsurance products.
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