Kkr & Co Inc Stock Price, News & Analysis

FS KKR Capital Corp. (NYSE: FSK) announced its Q2 2024 results and declared a Q3 2024 distribution of $0.70 per share. Key highlights include:

- Net investment income of $0.77 per share
- Adjusted net investment income of $0.75 per share
- Net asset value of $23.95 per share
- Total net realized and unrealized loss of $0.39 per share
- Earnings per Share of $0.37
- Total purchases of $1,260 million vs $1,336 million of sales and repayments
- Net debt to equity ratio at 109%

The company's total fair value of investments was $14.1 billion, with 66% invested in senior secured securities. The weighted average annual yield on accruing debt investments was 12.3%. FSK's board expects to distribute a minimum of $2.90 per share during 2024.

Körber Supply Chain Software, a joint venture between Körber AG and KKR, has signed a binding agreement to acquire MercuryGate International Inc., a leading provider of transportation management systems (TMS). This strategic acquisition aims to strengthen Körber's supply chain software business by expanding its global supply chain execution solutions.

The combined portfolio will offer customers increased flexibility, scalability, and resiliency in managing complex global supply chains. Key benefits include:

• Connected solutions across inbound and outbound supply chain activities
• A resilient supply chain platform with improved visibility
• Simulation capabilities for evaluating future strategies

The acquisition is subject to customary closing conditions and regulatory approvals.

KKR & Co. Inc. (NYSE: KKR), a leading global investment firm, has released its second quarter 2024 financial results. The report is available on the company's website in the Investor Center section. KKR will host a conference call on July 31, 2024, at 10:00 a.m. ET to discuss the results. Investors can access the call via phone or live webcast on KKR's website. The company offers alternative asset management, capital markets, and insurance solutions through its various subsidiaries, including Global Atlantic Financial Group. KKR focuses on generating attractive investment returns through a disciplined approach and supporting growth in portfolio companies and communities.

Avantus, a leading U.S. developer of utility-scale solar and solar-plus-storage projects, has announced the completion of its acquisition by KKR, a global investment firm. Alongside this, Avantus has secured a $522 million development facility arranged by KKR Capital Markets and Sumitomo Mitsui Banking

This financial backing will fuel Avantus' growth and execution of its development portfolio, which now spans over 30 GWdc of solar and 94 GWh of energy storage across the Western United States. KKR and EIG, the sole equity investors in Avantus, have invested upwards of $1 billion through equity and debt commitments to support the company's expansion.

The acquisition and funding aim to accelerate the deployment of Avantus' pipeline, including some of the nation's largest solar and energy storage projects, capitalizing on the increasing demand for clean energy driven by factors such as data center growth and artificial intelligence advancements.

Instructure Holdings, Inc. (NYSE: INST), a leading learning ecosystem, has announced its acquisition by KKR for $4.8 billion. The all-cash transaction values Instructure at $23.60 per share, representing a 16% premium over its unaffected share price. KKR, with participation from Dragoneer Investment Group, will acquire all outstanding shares, including those owned by Thoma Bravo, Instructure's existing majority owner.

The current management team, led by CEO Steve Daly, will continue to lead the company. KKR plans to support Instructure's growth strategy, focusing on core markets and building the Instructure Learning Ecosystem. The transaction is expected to close later this year, subject to regulatory approvals and shareholder consent. Upon completion, Instructure will become a privately held company and delist from the NYSE.

KKR, a leading global investment firm, has acquired Marmic Fire & Safety from HGGC. Marmic specializes in fire equipment inspection, testing, and maintenance services for over 56,000 customers across various sectors in the U.S. The company, founded in 1951, plays a important role in ensuring customer safety and regulatory compliance.

Key highlights:

• KKR plans to implement a broad-based employee ownership program at Marmic
• The acquisition is part of KKR's Ascendant Strategy, focusing on middle market businesses in North America
• Marmic will continue to operate as an independent company backed by KKR
• Financial terms of the deal were not disclosed

This acquisition aligns with KKR's strategy of employee engagement as a driver for building stronger companies, having previously awarded billions in equity value to over 100,000 non-senior management employees across its portfolio.

Metronet, a leading independent fiber-to-the-home (FTTH) operator in the U.S., has announced its sale to a joint venture between KKR and T-Mobile. The transaction, expected to close in 2025, will transform Metronet into a wholesale services provider, with T-Mobile taking over residential fiber retail operations. Metronet's network currently reaches over 2 million households across 17 states.

Key points:

• Oak Hill Capital and the Cinelli family, Metronet's majority shareholders, will retain minority investments in the JV
• Metronet will focus on network infrastructure while T-Mobile handles customer acquisition and support
• The company boasts the highest build pace among private fiber companies in the U.S.
• The deal aims to expand fiber broadband services to more U.S. consumers

T-Mobile (TMUS) and KKR have announced a joint venture to acquire Metronet, a leading fiber-to-the-home operator in the U.S. The deal aims to expand T-Mobile's broadband portfolio and offer fiber internet services to more consumers. Key points:

1. T-Mobile will acquire 100% of Metronet's residential fiber retail operations and customers.
2. Metronet will become a wholesale services provider, focusing on network deployment and customer installation.
3. The JV is expected to reach 6.5 million homes passed by the end of 2030.
4. T-Mobile will invest approximately $4.9 billion for a 50% equity stake in the JV.
5. The transaction is expected to close in 2025, subject to regulatory approvals.

This strategic move complements T-Mobile's existing 5G Home Internet offering and aims to meet increasing consumer demand for high-speed, reliable broadband services.

KKR, a leading global investment firm, has signed a definitive agreement to acquire Janney Montgomery Scott from The Penn Mutual Life Insurance Company. Janney, a wealth management, investment banking, and asset management firm with over $150 billion in assets under administration, will become a standalone private company after the transaction closes.

Key points:

• Janney has 900+ financial advisors across 135 U.S. offices
• KKR plans to create a broad-based equity ownership program for Janney's 2,300 employees
• The transaction is expected to close in Q4 2024
• KKR is investing primarily through its North America Fund XIII

This acquisition positions KKR to capitalize on the growing U.S. wealth management market while maintaining Janney's client-centric culture and growth-oriented mindset.