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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.
Jet Edge International has raised $75 million in new funding from KKR, bringing total investments to approximately $265 million over the past year. This funding will be utilized to expand Jet Edge's fleet, which includes 20 new Gulfstream and Challenger aircraft set for delivery in the first half of 2022. Jet Edge has experienced a remarkable 1,800% year-on-year growth in new member acquisitions, bolstering its Reserve Membership program. KKR's continued investment underscores its confidence in Jet Edge's growth strategy and operations.
KKR Real Estate Select Trust Inc. has acquired over 1.9 million square feet of prime warehouse assets in the U.S., expanding its logistics real estate portfolio to approximately six million square feet. The new properties include a one million square foot warehouse in Charleston and a 923,000 square foot industrial park in Chicago, both fully leased. KKR emphasizes that investing in high-quality logistics properties aligns with their income-oriented strategy, leveraging their extensive experience in the sector.
KKR & Co. announced the appointment of Ryan Stork as Partner and Chief Operating Officer (COO). Having over 20 years of experience at BlackRock, where he was Deputy COO and led various teams, Stork's role aims to enhance operational functions to support KKR's global investment strategies. Joe Bae and Scott Nuttall, Co-CEOs, emphasized the importance of Stork’s leadership in driving the firm's strategic priorities. Stork expressed excitement about joining KKR during this transformative period.
KKR has successfully closed its KKR Health Care Strategic Growth Fund II, raising $4.0 billion to invest in health care growth equity opportunities in North America and Europe. This successor fund is nearly three times the size of its predecessor, which closed at $1.45 billion in November 2017. KKR aims to generate strong returns by partnering with innovative health care companies across sectors like biopharmaceuticals, medical devices, and health care IT. The firm has invested around $18 billion in the health care sector since 2004.
KKR & Co. Inc. (NYSE: KKR) has appointed Matthew Cohler to its Board of Directors, effective December 31, 2021. This new appointment increases the number of independent directors to twelve out of sixteen Board seats. Cohler, a former General Partner at Benchmark, brings extensive experience in early-stage investments in Internet and software startups. KKR continues to focus on generating attractive investment returns through its disciplined investment approach while enhancing leadership diversity on its Board.
KKR, Ontario Teachers’ Pension Plan Board, and PSP Investments have completed the acquisition of Spark Infrastructure in an all-cash transaction totaling approximately A$5.2 billion. The Consortium has obtained all necessary regulatory approvals. Spark Infrastructure invests in essential energy infrastructure in Australia, serving over 5 million customers and supporting the country's transition to renewable energy. Its portfolio includes stakes in SA Power Networks, Victoria Power Networks, TransGrid, and Bomen Solar Farm, which positions it well for future growth and reliability in electricity supply.
KKR has reported a record quarterly monetization activity, achieving over $1.15 billion in total realized performance income for the period from October 1, 2021 to December 21, 2021. This amount is composed of approximately 50% gross realized carried interest, 30% realized incentive fees, and 20% realized investment income. The growth is driven by strategic sales and dividend income, although future results remain uncertain as the figures do not account for other income sources or expenses.
Global music company BMG and investment firm KKR have acquired the entire music interests of iconic American rock band ZZ Top. This acquisition encompasses the band's publishing catalogue and royalties from recorded and performance income. The partnership aims to enhance the legacy of ZZ Top and maximize the value of their catalogue. This transaction follows a prior collaboration between BMG and KKR announced in March 2021, emphasizing their commitment to the growing music IP market.
KKR has signed a definitive agreement to acquire Yayoi Co., Ltd., Japan's leading software provider for SMEs, from ORIX Corporation. Yayoi is renowned for its accounting and tax software, having over 2.5 million registered users. The acquisition aims to enhance Yayoi's growth and accelerate digital transformation for Japan's SMEs. KKR, with significant expertise in technology investments, is set to boost Yayoi’s market penetration and operational efficiency. The transaction is expected to close by March 1, 2022, pending regulatory approvals.
Bettcher Industries, a leader in food processing equipment, has been fully acquired by KKR, a prominent global private equity firm. This acquisition was finalized following KKR's announcement in November to buy Bettcher from Morgenthaler Private Equity. CEO Tim Swanson emphasized that the partnership with KKR will enhance Bettcher's growth, leveraging KKR's global reach and expertise. Bettcher's offerings include a range of innovative products aimed at improving yield and safety in food processing, including its renowned Bettcher handheld trimmers and processing equipment under Cantrell-Gainco.