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.
FS KKR Capital Corp. (NYSE: FSK) will release its fourth quarter and full year 2022 results on February 27, 2023, after market close. A conference call is scheduled for February 28, 2023, at 9:00 a.m. ET to discuss these results. Interested parties can register for the call through the provided link and access the webcast on the company's Investor Relations website. Additionally, a financial presentation will be made available following the earnings release. FSK specializes in providing customized credit solutions to U.S. middle market companies, focusing on senior secured and subordinated debt investments.
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KKR has officially closed its investment in Clinisupplies, a leader in continence care products in the UK, acquired from Healthium. This strategic partnership aims to leverage KKR's global network and expertise to expand Clinisupplies' portfolio and market reach in chronic care. Key appointments to the Board of Directors include Claus Bjerre, Douglas Le Fort, and Oliver Johansen, who bring significant industry experience. KKR's investment comes from its $4 billion Health Care Strategic Growth Fund II, reinforcing its commitment to supporting high-growth healthcare firms.
S&P Global (NYSE: SPGI) has announced an agreement to sell its Engineering Solutions business to KKR for $975 million in cash. This divestiture is expected to yield approximately $750 million in after-tax proceeds, which S&P Global plans to use for share repurchases. The transaction, anticipated to close by the end of Q2 2023, aligns with S&P Global's strategy to focus on core businesses. Engineering Solutions, serving over 6,000 customers globally, will benefit from KKR's investment in innovation and growth. The sale follows S&P Global's outlined intent to divest this segment as announced in November 2022.
KKR has appointed Tim Lawler as an Executive Advisor, enhancing its talent management capabilities within the health care sector. Mr. Lawler, a seasoned private equity professional with over 20 years of experience, will collaborate with the KKR Americas Health Care team to build long-lasting relationships with top executives. His track record includes leadership roles at Waud Capital Partners and Highland Capital Management. KKR has invested approximately $19 billion in health care over the last 25 years, and Lawler aims to further attract high-caliber talent to the firm, positioning KKR as a premier partner for health care leaders.
The Board of Trustees of KKR Income Opportunities Fund (NYSE: KIO) has approved a Rights Offering for shareholders to subscribe for additional shares, with a record date set for January 23, 2023. Each existing shareholder will receive one transferable right for each share held, allowing them to purchase one new share for every three rights at a price linked to market performance. The Fund will also increase its monthly distributions from $0.1050 to $0.1215 per share starting March 31, 2023, reflecting a 15.71% increase.
KKR has announced a further $1.15 billion investment to expand its portfolio of leased commercial aircraft in partnership with Altavair, bringing total commitments to $1.7 billion since 2018. This expansion will enhance their ability to support the fleet needs of airlines globally, as demand for aircraft leasing grows. KKR's aviation investments since 2015 have reached approximately $8.3 billion. The partnership has successfully acquired over 90 aircraft, with 75% leased to tier-one airlines.
KKR has announced a new investment in South Korean energy company SK E&S, acquiring newly issued redeemable convertible preferred shares (RCPS). This marks KKR's second investment in SK E&S since November 2021, aimed at supporting the company’s transformation into a global clean energy solutions provider. SK E&S plans to utilize this capital to improve liquidity and capture post-pandemic opportunities in the energy sector. With over US$15 billion in global investments in renewables since 2011, KKR underlines its commitment to the clean energy market.
KKR has reported a strong monetization activity update for the period from October 1, 2022 to December 20, 2022, achieving over $500 million in total realized performance income, driven by strategic sales and investments. The income breakdown includes approximately 30% from gross realized carried interest, 25% from realized incentive fees, and 45% from realized investment income. Notably, this estimate does not predict total revenues for the quarter ending December 31, 2022 as it excludes other income and expenses.
KKR has signed definitive agreements to acquire all shares of Bushu Pharmaceuticals from BPEA EQT. This strategic move aims to enhance Bushu Pharma's growth as a leading contract development and manufacturing organization (CDMO) in Japan and globally. Founded in 1998, Bushu Pharma specializes in producing high-quality pharmaceuticals, including oral solid dosages and injectables. KKR plans to work with Bushu Pharma’s management to expand into new segments, invest in capacity, and improve quality control. The transaction is expected to finalize in Q1 2023, pending approvals.