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 released its 2022 mid-year outlook by CIO Henry McVey, who emphasizes a shift in the macroeconomic narrative impacting corporate profits. Notably, McVey projects a 5% contraction in S&P 500 earnings per share for 2023, contrasting with the consensus of 9% growth. The firm expects prolonged high oil prices and persistent inflation pressures shifting from goods to services. Key investment themes include pricing power, collateral-based cash flows, and the energy transition, projected to be a $1.5-2.0 trillion annual growth opportunity.
KKR has published its COVID-19 Relief Effort Progress Report, detailing over $50 million in community funding for small businesses and nonprofits impacted by the pandemic. Key initiatives include the KKR Small Business Builders and KKR Grants programs, which awarded $32 million to nonprofits and provided $10,000 grants to 278 small business owners. The report highlights support provided to over 20 million people across 19 countries.
KKR & Co. has appointed Raymond J. McGuire to its Board of Directors, effective June 15, 2022. This appointment increases the number of independent directors to 13 out of 17 board seats. McGuire, a former Vice Chairman at Citigroup, brings extensive leadership experience, having also served as the Global Head of Corporate and Investment Banking there. This change is aimed at enhancing board diversity and expertise, reflecting KKR's commitment to strong governance.
Level Access and eSSENTIAL Accessibility have announced a merger to create a comprehensive digital accessibility solution for businesses and organizations. This strategic combination aims to empower organizations to enhance accessibility for people with disabilities. The merger, expected to complete by mid-2022, will leverage the expertise of both companies to provide improved accessibility services. KKR and JMI Equity will continue to support the combined entity's growth. The headquarters will be in Arlington, Virginia, with significant operations in Toronto and Argentina.
Global Atlantic Financial Group has launched a multi-year partnership with the National Forest Foundation, committing up to $500,000 in donations through 2025 for tree-planting and reforestation programs. This includes annual grants of $50,000 and additional funds for each policyholder opting for e-delivery, potentially totaling $300,000. The initiative aims to enhance forest health and raise environmental awareness among policyholders. The donations reflect Global Atlantic's dedication to corporate responsibility and environmental sustainability.
Global Atlantic Financial Group, a prominent financial services firm and majority-owned subsidiary of KKR, announced a significant asset-intensive flow reinsurance transaction with a leading insurance company in Singapore. This deal follows a previous $4.8 billion block reinsurance transaction with AXA Hong Kong in July 2021. Global Atlantic has now reinsured approximately $75 billion of assets since its founding in 2004. Co-President Manu Sareen highlighted the company’s client-centric approach and potential for future capital deployment in the Asia-Pacific region.
KKR has signed a definitive agreement to acquire a majority interest in apexanalytix, a supplier risk management software provider. Carousel Capital, apex's largest shareholder, will retain a significant minority stake. apex serves over 250 Fortune 500 companies, managing $8 trillion in annual spend and recovering over $8 billion annually for its clients. The partnership aims to leverage KKR's resources to boost apex's growth and innovation. The transaction is expected to close in H2 2022, pending regulatory approvals, with financial terms undisclosed.
KKR & Co. Inc. (NYSE: KKR) announced that Ken B. Mehlman, Global Head of Public Affairs & Co-Head of KKR Global Impact, will present at the Morgan Stanley US Financials, Payments & CRE Conference on June 13, 2022, at 10:15 AM ET.
A live audio webcast will be available on KKR's Investor Center website, with a replay offered shortly after the event.
For inquiries, KKR's Investor Relations can be contacted via email.
KKR Income Opportunities Fund (NYSE: KIO) has released its Q1 2022 investor call, now accessible via its website. The call featured insights from key executives, including portfolio updates and market perspectives. The Fund’s objective is to deliver high current income and potential capital appreciation by investing primarily in secured loans and high-yield debt instruments. Investors are advised to review the Fund's objectives, risks, and expenses thoroughly before investing. For more information, visit www.kkrfunds.com/kio.
Summary not available.