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.
Global Atlantic Financial Group announced a reinsuring agreement with Equitable Financial Life Insurance Company, involving the transfer of approximately $3 billion in assets. This deal focuses on a subset of Equitable's group retirement annuities, which collectively hold $10 billion in value. The transaction is expected to conclude in the fourth quarter, pending regulatory approvals. This is Global Atlantic's second reinsurance deal in 2022, furthering its position in the reinsurance market with approximately $80 billion of assets reinsured since 2004.
KKR has completed the acquisition of Barracuda Networks, a provider of cloud-first cybersecurity solutions, from Thoma Bravo. Although financial terms were not disclosed, this acquisition aims to support Barracuda's growth and enhance its cybersecurity offerings targeted at small and medium enterprises. KKR expresses excitement about collaborating with Barracuda to address evolving cybersecurity challenges. The acquisition underscores Barracuda's strong performance and the strategic support provided by Thoma Bravo over the past four years.
KKR has successfully acquired two industrial properties in the Atlanta and Dallas-Fort Worth metropolitan areas for approximately $300 million. The Atlanta property includes four Class A warehouses totaling 1.1 million square feet, while the Dallas acquisition consists of two Class A warehouses built in 2017, totaling 1.0 million square feet. Both properties are fully leased to high-quality tenants. KKR's strategy reinforces its commitment to quality industrial real estate, with $7 billion committed to logistics assets since 2018, underlining its growth in key U.S. markets.
KKR, a global investment firm, has sold a portfolio of 13 distribution properties in Chicago, comprising approximately 1.7 million square feet of warehouse space. The assets feature average clear heights of 24 feet and are strategically located in the Chicago metropolitan area. KKR acquired these properties in December 2020 and has invested over $7 billion in U.S. logistics assets since 2018. The transaction reflects KKR's strong demand for last-mile logistics real estate, positioning the firm as a significant player in the industrial real estate market.
KKR and Loop Capital have announced a strategic alliance enabling Loop Capital to independently provide investment banking and equity research services to KKR’s equity capital markets clients. This partnership enhances KKR's capabilities in underwriter services for IPOs and broadens their distribution via Loop Capital’s institutional investors. KKR has collaborated with Loop Capital on ECM transactions since 2011, and Loop Capital has participated in 15 KKR capital markets transactions. The alliance aims to strengthen KKR's capital markets business while expanding access to client resources.
KKR announced the sale of Minnesota Rubber and Plastics (MRP) to Trelleborg Group for approximately US$950 million. Since KKR's acquisition in November 2018, MRP has enhanced its operations through significant investments, including a new innovation center and improved manufacturing processes. KKR's employee ownership model allowed MRP's over 1,450 employees to share in the company's success, receiving cash payouts upon closure of the deal. The transaction is expected to close by year-end 2022, contingent on regulatory approvals.
KKR & Co. Inc. released its second quarter 2022 results, now available on its Investor Center website. The company will hold a conference call on August 2, 2022, at 10:00 a.m. ET to discuss these financial outcomes, accessible via phone and live stream. KKR operates as a leading global investment firm, focusing on alternative asset management, capital markets, and insurance solutions. It aims for attractive returns through a disciplined investment approach and supports growth in its portfolio companies.
KKR Income Opportunities Fund (NYSE: KIO) has declared monthly distributions of $0.105 per common share for August, September, and October 2022. Based on its IPO price of $20.00 and close price of $12.15 on July 27, 2022, the annualized distribution rates are 6.30% and 10.37% respectively. Shareholders should be aware that some distributions may come from sources other than net investment income and that the fund's investment performance can fluctuate significantly.
Global Atlantic Financial Group announced its recognition in Barron’s annual list of the Best Annuities, showcasing its ForeStructured Growth and ForeAccumulation II Advisory products. ForeStructured Growth, a registered index-linked annuity, is noted for its growth potential with limited risk, while ForeAccumulation II Advisory offers principal protection with potential higher returns. Both products are highlighted for meeting investor needs and are backed by Global Atlantic’s strong financial rating of A from A.M. Best.
KKR has acquired a majority stake in apexanalytix, a leader in supply chain risk management software. Carousel Capital maintains a significant minority stake. apexanalytix serves over 250 Fortune 500 companies, safeguarding more than $8 trillion in annual spend and recovering over $8 billion annually for its clients. KKR aims to leverage its global presence and technical expertise to enhance apex’s service capabilities. Financial terms were not disclosed. The partnership is anticipated to accelerate growth and improve supply chain management solutions for enterprise organizations.