KKR & Co. Inc. reports developments across its global investment business, including alternative asset management, capital markets activity and insurance solutions. Company news commonly covers operating results, fund and strategy activity, portfolio investments, co-investment vehicles, debt financing, and capital-structure updates.
KKR sponsors investment funds in private equity, credit and real assets, works with strategic partners that manage hedge fund platforms, and operates insurance subsidiaries that offer retirement, life and reinsurance products through Global Atlantic Financial Group. Recent company updates also reflect activity in technology growth, sports, sustainable infrastructure and insurance-related platforms.
KKR has successfully completed the first stage of its tender offer for FUJI SOFT, acquiring a 33.86% voting rights stake (21,413,302 common shares) and approximately 90% of existing share options. The investment firm has become FUJI SOFT's largest shareholder, positioning itself as a key player in any potential privatization efforts. A second tender offer is planned for mid-November at 8,800 yen per share, representing a 110.3% premium over the 12-month average closing price prior to October 2, 2023. Notably, about 90% of FUJI SOFT's advisors, directors, and officers supported the first tender offer by tendering their share options.
FS KKR Capital Corp (FSK) reported its Q3 2024 financial results with net investment income of $0.77 per share, unchanged from Q2 2024. The company's net asset value slightly decreased to $23.82 per share from $23.95. Total purchases were $1,136 million versus $1,321 million in sales and repayments. The board declared a Q4 2024 distribution of $0.70 per share. The portfolio's total fair value was $13.9 billion, with 67% invested in senior secured securities. The weighted average annual yield on accruing debt investments was 11.9%, down from 12.3% in Q2. Non-accrual investments improved to 1.7% of the portfolio at fair value.
Biosynth, a global supplier of critical raw materials for life sciences, has announced key leadership changes. Matt Gunnison, CEO of Gamma Biosciences, has been appointed as the new CEO, succeeding Urs Spitz, who will remain on the Board. Kieran Murphy, former President of GE Healthcare, has been named Chairman. Gunnison brings nearly two decades of healthcare and life sciences experience, while Murphy contributes extensive corporate leadership background. Additionally, Eric Simpson, previously VP at Gamma Biosciences, joins as Head of Corporate Development.
Global Atlantic Financial Group has awarded a $75,000 grant to BioQuest, a biodiversity conservation NGO, through its Bermuda-based Global Atlantic Re foundation. The three-year partnership will support BioQuest's biodiversity research program in Bermuda, focusing on three initial projects: the Bermuda Cahow population study, Bermuda Skink reference genome, and Bermuda Cedar Tree reference genome. The collaboration includes educational opportunities for Global Atlantic employees, who will learn about DNA species identification and genetic research processes. Employees may also help select future research species from a conservation-aligned shortlist.
eRESI Capital has secured additional investment from KKR insurance accounts, building on their initial 2021 investment. The company, founded in 2019, has provided over $10 billion in residential whole loan funding through its mortgage funding platform. The new capital will support eRESI's expansion of funding capabilities and operational capacity to increase market share. KKR's High-Grade Asset-Based Finance strategy, which manages approximately $66 billion in assets globally, focuses on investment grade financings and whole loan purchases.
KKR has appointed Georgia Rankin as Executive Advisor to work with its European Private Equity team. Rankin, former Managing Director and Co-Head of Global Private Equity Practice at Russell Reynolds, brings over 20 years of executive search and leadership advisory experience. She will focus on building relationships with CEOs and senior executives, strengthening KKR's position as a strategic partner, and supporting value creation across its European portfolio. The appointment aims to enhance portfolio companies' access to top talent and promote diverse leadership teams. KKR's European operations include over 100 professionals across nine offices, representing 15+ nationalities.
KKR and Energy Capital Partners (ECP) have announced a $50 billion strategic partnership to accelerate the development of data center and power infrastructure for AI and cloud computing expansion. The collaboration combines KKR's digital infrastructure expertise with ECP's energy transition platform. U.S. data center demand is projected to nearly triple by 2030, requiring over $1 trillion in investment. A single planned data center campus requires about 1 gigawatt of power and $15 billion investment. The partnership has an 8 GW existing datacenter pipeline and 100 GW of operating and development-ready power generation capacity.
Capital Group and KKR have filed registration statements with the SEC for two public-private fixed income funds: Capital Group KKR Core Plus+ and Capital Group KKR Multi-Sector+. The funds are expected to launch in the U.S. in the first half of 2025, pending regulatory approval. This initiative marks their exclusive strategic partnership to create hybrid public-private investment solutions for individual investors through financial professionals.
The partnership combines Capital Group's public market capabilities ($555B in public fixed income assets) with KKR's private markets expertise ($100B in private credit assets). The platform aims to make private markets more accessible to a broader client base, including select institutional investors.
Resolian, a global bioanalytical and analytical sciences partner, announced key leadership changes. Rob Stachlewitz joins as CEO, while current CEO Pat Bennett transitions to Chief Business Officer and President of Scientific Affairs. Honggang Bi has been appointed Chairman of the Board. The company, backed by Ampersand Capital Partners and KKR, has expanded globally through acquisitions including Alliance Pharma, Drug Development Solutions, and Denali MedPharm, establishing operations across four continents. The reorganization aims to support growing client needs and enhance global operations.
Global Atlantic Financial Group and the Bermuda Economic Development (BEDC) announced eight finalists for the Wave of Opportunity Pitch Competition, scheduled for November 21st at Hamilton Princess Hotel. From 65 initial applications, eight entrepreneurs will compete for five $25,000 prizes. The competition includes three youth finalists (The Playroom, Navigate, and Flow by Nico) and five adult finalists (PsyNeu, Sweat Suites Studio, NBK School of Nails, Bermuda Sports Radar, and Sade Milan Skin). The $125,000 small business accelerator grant program aims to strengthen Bermuda's business landscape and stimulate the local economy.