Capital Group and KKR to Advance Strategic Partnership, with Innovation Across Retirement Solutions and Model Portfolios

Rhea-AI Summary

Capital Group and KKR (KKR) expanded their strategic partnership on Dec. 3, 2025 to deliver integrated retirement and wealth solutions combining public and private market strategies. The firms will exclusively develop a Target Date Fund Solution for defined contribution plans and Public-Private Model Portfolios for wealth clients.

The partners said a public-private equity fund has been filed and is expected to launch in early 2026 pending regulatory approval, with a public-private real asset strategy targeted for late 2026. The collaboration also extends to insurance asset management with KKR's Global Atlantic.

Positive

• Exclusive partnership to build combined public-private retirement products
• Target Date Fund Solution created for defined contribution plans
• Public-Private Model Portfolios for diversified wealth clients
• Public-private equity fund filed; launch expected early 2026
• Insurance asset management collaboration with Global Atlantic

Negative

• Public-private equity fund launch is pending regulatory approval, posing timing risk

News Market Reaction

+3.10%

1 alert

+3.10% News Effect

On the day this news was published, KKR gained 3.10%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Saviynt financing: $700M Saviynt valuation: $3.0B easyHotel financing: €300 million +5 more

8 metrics

Saviynt financing $700M Series B growth equity round led by KKR funds (Dec 2025)

Saviynt valuation $3.0B Approximate post-money valuation at Dec 2025 financing

easyHotel financing €300 million Whole loan financing for EPISO 6’s easyHotel acquisition

Ecoplexus facility $300 million Credit facility from KKR-advised accounts for solar and storage

Ecoplexus pipeline over 13 GW Solar and storage projects supported by the KKR facility

Q2 2025 revenues $5,088,843 (thousands) Consolidated total revenues for quarter ended June 30, 2025

Q2 2025 net income $1,354,464 (thousands) Consolidated net income for quarter ended June 30, 2025

Series D preferred 51,750,000 shares Mandatory Convertible Preferred Stock issued with $2,543,404 carrying amount

Market Reality Check

Price: $103.20 Vol: Volume 6,730,895 is 1.51x...

high vol

$103.20 Last Close

Volume Volume 6,730,895 is 1.51x the 20-day average of 4,458,714, indicating elevated interest before/around this news. high

Technical Price 142.77 is trading above the 200-day MA of 126.54, reflecting a prevailing uptrend ahead of the announcement.

Peers on Argus

KKR gained 4.24% while key peers were mixed: BLK up 1.57%, APO up 0.84%, BN and ...

KKR gained 4.24% while key peers were mixed: BLK up 1.57%, APO up 0.84%, BN and BAM down, ARES down 0.63%. This suggests a stock-specific reaction rather than a broad asset-management move.

Common Catalyst Another peer, ARES, also had strategic transaction news, but only one peer carried headlines, limiting evidence of a shared sector catalyst.

Historical Context

5 past events · Latest: Dec 09 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 09	Growth equity deal	Positive	+4.3%	KKR-led $700M financing for Saviynt at ~$3B valuation and customer growth.
Dec 08	Credit financing	Positive	+0.6%	€300m whole loan financing backing easyHotel portfolio expansion and capex.
Dec 03	Leadership promotions	Positive	+3.1%	Promotion of 8 Partners and 39 MDs across global business lines.
Dec 03	Strategic partnership	Positive	+3.1%	Expanded Capital Group partnership on public‑private retirement and wealth solutions.
Dec 01	Credit facility	Positive	+0.4%	$300M facility for Ecoplexus to support >13 GW solar and storage projects.

Pattern Detected

Across the last five news events, KKR’s shares consistently showed positive 24h moves following diverse catalysts, including partnerships, financings, and internal promotions.

Recent Company History

Over recent months, KKR reported several credit and partnership-driven milestones. On Dec 1, it funded Ecoplexus with a $300 million credit facility supporting 13 GW of projects. On Dec 3, it expanded its Capital Group partnership around public‑private strategies and insurance assets, with a 3.1% price reaction. Subsequent days brought partner promotions, a €300 million easyHotel financing, and a $700M AI-focused Saviynt round, each followed by positive moves, reinforcing a pattern of favorable responses to strategic growth news.

Market Pulse Summary

This announcement expanded KKR’s strategic partnership with Capital Group to create integrated publi...

Analysis

This announcement expanded KKR’s strategic partnership with Capital Group to create integrated public‑private solutions across target date funds, wealth model portfolios, and insurance assets. It built on earlier 2025 launches of public‑private credit and equity strategies, with additional real asset products targeted for 2026. Historically, partnership headlines have produced modestly positive moves on average. Investors may watch how quickly new vehicles attract assets, secure regulatory approvals, and deepen distribution across defined contribution and wealth channels.

Key Terms

defined contribution plans, target date fund, model portfolios, private markets, +1 more

5 terms

defined contribution plans financial

"A Target Date Fund Solution for defined contribution plans that is uniquely constructed"

Defined contribution plans are employer-sponsored retirement accounts where fixed contributions are made into an individual account for each worker, and the eventual payout depends on how those contributions are invested and grow over time. Think of it like a personal piggy bank that an employer tops up: the worker bears the investment risk and decides how the money is invested, while the employer’s cost is generally the predictable contributions rather than an open-ended pension promise. For investors, these plans matter because they change a company’s long-term liabilities, cash flow predictability and employee financial security, which can influence workforce stability and consumer behavior.

target date fund financial

"A Target Date Fund Solution for defined contribution plans that is uniquely constructed"

A target date fund is an investment fund designed to automatically change the mix of stocks, bonds and cash over time based on a chosen target year—usually the year you plan to retire. It matters to investors because it acts like an autopilot for risk: early on it favors growth with more stocks, then gradually shifts toward safer investments, simplifying saving decisions while exposing you to the fund’s chosen risk path and fees.

model portfolios financial

"Public-Private Model Portfolios that integrate public market strategies managed"

Model portfolios are carefully designed collections of investments that reflect a specific financial strategy or goal, such as growth or income. They serve as ready-made investment plans, helping investors easily diversify their holdings without selecting individual assets themselves. This simplifies the process of investing and provides a clear roadmap aligned with different risk levels and objectives.

private markets financial

"incorporating private markets into their portfolios requires true collaborative partnership"

Private markets are places where investors buy and sell ownership in companies, debt, or assets that are not listed on public stock exchanges — think direct stakes in a start-up, private company, real estate project, or loan. They matter to investors because these deals can offer higher potential returns and diversification but come with less transparency, limited ability to sell quickly, and more uncertainty, like owning a whole house versus trading shares of a real estate fund.

insurance asset management financial

"The firms also plan to collaborate more broadly on insurance asset management"

The practice of managing the pools of money that insurance companies set aside to pay future claims and run their business, choosing where to invest those funds across bonds, stocks, loans and other assets. It matters to investors because those investment choices determine an insurer’s ability to meet obligations, generate income and absorb losses—think of it like a household investing a savings pot to cover future bills while trying to avoid big swings in value.

AI-generated analysis. Not financial advice.

Firms will also partner on Insurance Asset Management

LOS ANGELES and NEW YORK, Dec. 3, 2025 /PRNewswire/ -- Capital Group and KKR today announced an expansion of their strategic partnership to deliver new, integrated retirement and wealth solutions. The collaboration builds on their successful launch of public-private investment strategies in 2025.

The firms will exclusively partner to develop two new offerings that broaden private market access for retirement savers:

• A Target Date Fund Solution for defined contribution plans that is uniquely constructed as a holistic portfolio featuring public market strategies managed by Capital Group and private market strategies managed by KKR.
• Public-Private Model Portfolios that integrate public market strategies managed by Capital Group and private market strategies managed by KKR within diversified wealth portfolios.

"Our goal is to redefine what's possible for investors through best-in-class strategies that combine the strengths of both public and private markets," said Mike Gitlin, President and CEO of Capital Group and Scott Nuttall, Co-CEO of KKR. "Solving the challenges investors and their advisors face when incorporating private markets into their portfolios requires true collaborative partnership. By expanding this partnership, we're building a platform that brings the diversification benefits of private markets to more investors — from wealth portfolios to defined contribution plans — in ways neither firm could achieve alone."

Capital Group and KKR have already partnered on a series of public-private funds, including Capital Group KKR Core Plus+ and Capital Group KKR Multi-Sector+ credit strategies. The first public-private equity fund, Capital Group KKR U.S. Equity+, has been filed and is expected to launch in early 2026 pending regulatory approval. There is also a public-private real asset strategy in development, targeted for late 2026.

Driving Industry Change

The collaboration extends beyond investments to education and advisor enablement. Both firms are committed to equipping financial advisors with the knowledge and tools needed to integrate private market exposures into client portfolios responsibly and confidently.

"At a pivotal moment for wealth management and retirement markets, investors are seeking more holistic solutions and greater choice. Capital Group and KKR are committed to leading this transformation, passionately focusing on education, transparency, and innovative products that empower financial advisors and their clients," said Matt O'Connor, CEO of Capital Group's Client Group.

Eric Mogelof, KKR's Global Head of Client Solutions added, "Our expanded partnership reflects a shared belief that more investors deserve access to high-quality private investments. By combining Capital Group's public markets investment rigor with KKR's private market depth, we're redefining what's possible for financial professionals and their clients. Defined contribution plans and IRAs can benefit from the diversification of private markets, just like defined benefit plans do today."

Extending Partnership into Insurance

The firms also plan to collaborate more broadly on insurance asset management, with Global Atlantic — KKR's insurance subsidiary — by leveraging Capital Group's fixed income experience to manage portions of its assets.

About Capital Group
As Capital Group approaches its 100^th anniversary in 2031, its long-term strategy remains firmly rooted in its mission to improve people's lives through successful investing. With over 9,000 associates and 33 offices around the world, Capital Group manages $3.2 trillion in assets for millions of wealth management and institutional clients around the world*. 

*As of September 30, 2025.

For more information, visit capitalgroup.com.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at https://kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at https://www.globalatlantic.com/.

KKR is not a sponsor, promoter, investment adviser, sub-adviser, underwriter or affiliate of Capital Group KKR U.S. Equity+.

The registration statement of Capital Group KKR U.S. Equity+ has been filed with the Securities and Exchange Commission and is available from the EDGAR database on the SEC's website (www.sec.gov). The information in the registration statement is not complete and may be changed. The securities of the fund may not be sold until its registration statement is effective. An investor should consider the investment objective, risks, charges and expenses of the fund carefully before investing. This and other information about the fund will be contained in the fund's final prospectus, which investors should read carefully when available from the EDGAR database on the SEC's website (www.sec.gov). This communication is not an offer to sell the shares of the fund and is not soliciting an offer to buy the shares of the fund in any state where the offer or sale is not permitted.

All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All KKR trademarks mentioned are owned by Kohlberg Kravis Roberts & Co. L.P.

KKR Credit Advisors (US) LLC serves as the sub-adviser of Capital Group KKR Core Plus+ and Capital Group KKR Multi-Sector+ with respect to the management of each fund's private credit assets. Capital Group (the "Adviser") and KKR are not affiliated. The two firms maintain an exclusive partnership to deliver public-private investment solutions to investors.

This press release may contain certain forward-looking statements pertaining to KKR, including with respect to accounts advised by KKR. Forward-looking statements relate to expectations, beliefs, future plans and strategies, anticipated events and similar expressions concerning matters that are not historical facts and which can change as a result of many possible events or factors, not all of which are known to KKR or within its control, and, as a result, may vary materially.

Capital Client Group, Inc.

Media Contacts

Capital Group
Lizzie Lowe

KKR
Global Communications

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SOURCE Capital Group Companies

FAQ

What did Capital Group and KKR announce on Dec. 3, 2025 about retirement products (KKR)?

They expanded an exclusive partnership to develop a Target Date Fund Solution for defined contribution plans and Public-Private Model Portfolios for wealth clients.

When will the Capital Group KKR public-private equity fund (KKR) launch?

The public-private equity fund has been filed and is expected to launch in early 2026 pending regulatory approval.

What new strategies are Capital Group and KKR targeting for 2026 (KKR)?

A public-private equity fund expected in early 2026 and a public-private real asset strategy targeted for late 2026.

How will the partnership affect defined contribution plans and IRAs (KKR)?

The firms said the offerings aim to broaden private market access and bring private-public diversification to defined contribution plans and IRAs.

Will Capital Group and KKR work with insurance asset managers (KKR)?

Yes; the collaboration expands into insurance asset management with KKR's Global Atlantic leveraging Capital Group's fixed income experience.