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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.
On January 1, 2023, KKR promoted 27 individuals to Managing Director, recognizing their hard work and contributions to the firm. Co-CEOs Joe Bae and Scott Nuttall emphasized the importance of these leaders in exemplifying KKR's culture and values. The promotions span various sectors, including Real Estate, Private Equity, and Credit & Markets, with individuals located in major global cities such as New York, London, and Sydney. This strategic move aims to bolster KKR's operational and investment expertise, further enhancing its value to clients and stakeholders.
KKR announced the conclusion of its cash tender offer for Hitachi Transport System (HTS) shares, with approximately 51.11% of shares tendered. The settlement will start on December 6, 2022. KKR's special purpose entity will not only acquire these shares but also implement a squeeze-out process to own 100% of HTS. The company, a significant player in Japan's third-party logistics sector, will be renamed LOGISTEED, Ltd. on April 1, 2023. This strategic move aims to enhance HTS's market position in Asia, leveraging KKR's global expertise.
Global Atlantic Financial Group announced that Paula Nelson, Managing Director, Head of Strategic Growth, Individual Markets, has joined the newly established Annuity Advisory Board formed by LIMRA and LOMA. The board aims to address the evolving demands of the U.S. annuity market, projected to achieve record sales in 2022. Nelson expressed her commitment to enhancing understanding of annuities and representing member companies. Global Atlantic, a subsidiary of KKR, leverages KKR's investment expertise to strengthen its financial solutions.
KKR & Co. Inc. (NYSE: KKR) has announced that Co-CEO Joseph Y. Bae will speak at the Goldman Sachs 2022 US Financial Services Conference on December 6, 2022, at 8:40 AM ET. The presentation will be accessible through a live webcast on KKR’s Investor Center website. Following the event, a replay will also be available. KKR specializes in alternative asset management, capital markets, and insurance solutions, aiming to deliver attractive investment returns.
KKR will lead a US$68 million Series B funding round for Advanced Navigation, boosting its total capital raised to over US$85 million. The funding aims to enhance R&D in AI robotics and navigation, expanding the company's global reach. This investment reflects KKR's strategy in the Asia Pacific region and underscores Advanced Navigation's position in the robotics sector, servicing major clients like Google and Boeing. Key figures from KKR will join Advanced Navigation's board to support this growth.
Global Atlantic Financial Group has appointed Jamie Kosharek as Head of Independent Channel Distribution. Kosharek will lead the company's independent annuity and life distribution efforts, focusing on enhancing relationships with Independent Marketing Organizations (IMOs), Financial Marketing Organizations (FMOs), and Broker-Dealer Groups (BGAs). This strategic move aims to elevate Global Atlantic's position in a rapidly growing market segment, furthering its growth strategy to rank among the top five carriers in this sector. Kosharek previously held leadership roles at Raymond James.
KKR has signed definitive agreements to lead a $48 million Series C funding round for Privy, a digital trust provider in Indonesia. The investment, which sees participation from existing and new investors, aims to enhance Privy's offerings in digital signatures and identity services, supporting Indonesia's digital transformation. The country’s digital economy is projected to grow to $146 billion by 2025. Privy currently serves over 30 million users and processes 40 million digital signatures annually, positioning it for further growth and international expansion.
Global Infrastructure Partners and KKR have partnered with Vodafone to co-control its 81.7% stake in Vantage Towers, launching a takeover offer for the remaining 18.3% at EUR 32.0 per share, a 19% premium on the recent average price. This consortium plans a multibillion-euro investment over the next five years to enhance Vantage's infrastructure and expand its network. With around 83,000 sites across Europe, Vantage Towers is poised to play a critical role in the continent's digital transformation.
KKR has announced a $400 million investment in Serentica Renewables, aimed at advancing energy transition for industrial sectors in India. This investment is significant, marking one of the largest industrial decarbonization initiatives in the country. Serentica plans to develop approximately 1,500 MW of renewable energy projects and aims for a total capacity of 5,000 MW, targeting over 16 billion units of clean energy annually. The investment aligns with India's ambitious renewable energy goals and is part of KKR’s broader strategy in the Asia Pacific renewables sector.
FS KKR Capital Corp. (NYSE: FSK) reported its financial results for Q3 2022, ending September 30. The firm announced a fourth quarter distribution of $0.68 per share, consisting of a base distribution of $0.61 and a supplemental distribution of $0.07. Net investment income increased to $0.76 per share from $0.71 in Q2, while adjusted net investment income rose to $0.73 from $0.67. Net asset value decreased to $25.30 from $26.41. The total fair value of investments was $15.8 billion, with a net debt to equity ratio of 119%.