Kkr & Co Inc Stock Price, News & Analysis

KKR reports a monetization update for July 1 to September 23, 2021, revealing over $800 million in gross realized carried interest and investment income. About 50% of this figure is from each category, primarily due to strategic sales and dividends from its portfolio. KKR emphasizes that this estimate does not project total revenues for Q3 2021 or the full year, as it excludes other income sources. The firm continues to focus on generating attractive investment returns through its disciplined investment strategies.

KKR has completed a significant investment in a joint venture with WS Development and PSP Investments for a new life science tower at 400 Summer Street in Boston's Seaport District. This 16-story building will be 635,000 square feet and serve as the headquarters for Foundation Medicine, which has fully leased the space. KKR's investment strategy focuses on high-quality life science properties, and this venture reinforces its presence in major U.S. biotech hubs, alongside a recent acquisition in San Francisco. The project underscores KKR's commitment to growth in the life sciences sector.

KKR Real Estate Select Trust Inc. (KREST) has acquired a 1.1 million square-foot Class A industrial warehouse in McDonough, Georgia, from PNK Group. The property features a 40-foot clear height and is fully leased to two high-quality tenants for an average lease term of 10 years. KREST aims to diversify its industrial portfolio and sees Atlanta as a strategic market, driven by e-commerce growth. This acquisition adds to KREST's holdings, which now total over 2.5 million square feet in high-growth areas. KKR's real estate assets under management amount to approximately $32 billion.

KKR has announced the acquisition of five self-storage properties across Atlanta, Phoenix, and Orlando for approximately $92 million. These properties, totaling around 3,884 units, were acquired in separate transactions from two different sellers. The strategic locations in high-growth metropolitan areas are expected to strengthen KKR's presence in the self-storage sector, which is experiencing strong demand. This investment aligns with KKR's commitment to expanding its self-storage portfolio, enhancing its real estate assets under management, which have grown to approximately $32 billion.

KKR has entered a joint venture with Cornerstone Companies to acquire and develop a diversified portfolio of healthcare properties across the U.S. The initiative is seeded with the recapitalization of 25 properties, totaling 713,705 square feet, valued over $1 billion. The properties are leased to reputable healthcare systems and practices, establishing a strong foundation for future acquisitions. This partnership aims to enhance investment solutions and capitalize on KKR's extensive experience in healthcare and real estate.

KKR has agreed to sell Riata Corporate Park for over $300 million to a global institutional investor. The transaction is expected to close soon. Riata is an 688,100 square foot Class A office campus located in the Austin Technology Corridor, fully leased by reputable tenants, including public companies. Since acquiring Riata in December 2019, KKR has invested in property improvements and maintenance. KKR has significantly grown its real estate assets under management, reaching approximately $32 billion as of June 30, 2021.

A-Street Ventures announced its first strategic investment in Teaching Strategies, a leader in early childhood education tools, as part of KKR's acquisition of the company. The minority stake aims to enhance educational outcomes through innovative instructional materials. Teaching Strategies connects over 15 million children with resources aligned to improve learning experiences. A-Street plans to focus on various investment stages, targeting innovative K-12 solutions that promote social mobility through education.

KKR has announced a $40 million investment in Jet Edge International, a leader in private aviation. This follows KKR's earlier financing of $150 million this year. The investment aims to support Jet Edge's member program and expand its fleet, enhancing its technology and infrastructure.

Jet Edge is experiencing significant growth, reporting 1,800% year-on-year increase in new member acquisitions and over $100 million in membership deposits in the past year, reflecting strong demand in the private aviation market.

KKR & Co. Inc. (NYSE: KKR) announced that Eric Mogelof, Partner and Global Head of KKR’s Client & Partner Group, will present at the Barclays Global Financial Services Conference on September 14, 2021, at 10:30 AM ET. A live webcast will be available on the Investor Center section of KKR’s website, with a replay accessible shortly after the event for those unable to attend live. KKR is a leading global investment firm focusing on alternative asset management, with a disciplined approach to generate attractive investment returns.