Welcome to our dedicated page for Kkr & Co news (Ticker: KKR), a resource for investors and traders seeking the latest updates and insights on Kkr & Co stock.
KKR & Co. Inc. (NYSE: KKR) is a global investment firm active across alternative asset management, capital markets and insurance solutions, and its news flow reflects this breadth. Press releases describe KKR-sponsored funds investing in private equity, credit and real assets, alongside insurance subsidiaries that offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group.
Recent KKR news highlights activity in private credit, infrastructure, real estate, digital infrastructure and transportation. For example, KKR announced the completion of a fundraise for KKR Asia Credit Opportunities Fund II and related accounts, focused on privately originated performing credit investments in Asia Pacific. The firm also reported a strategic partnership with RWE to develop UK offshore wind projects, illustrating its participation in energy transition and renewables infrastructure.
Other releases describe additional equity commitments to a European data center platform, the acquisition of a large logistics facility in Korea, and a strategic partnership to build a European rail leasing platform through an investment in Green Mobility Partners. KKR also issues updates on monetization activity, earnings release dates and fund distribution announcements, such as those related to KKR Income Opportunities Fund.
Investors and observers using this news page can review KKR’s official announcements on transactions, fund launches, capital raises, governance developments and financial disclosures. The coverage provides context on how KKR’s funds and subsidiaries operate across private equity, credit, real assets and insurance, and how the firm positions itself in themes such as private credit, digital infrastructure and the energy transition.
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.
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.