Kkr & Co Inc Stock Price, News & Analysis

KKR has announced the acquisition of The District at Scottsdale, a 332-unit Class A residential building, enhancing its residential portfolio in the Phoenix area to over 2,600 units valued at approximately $650 million. This acquisition is part of KKR's strategy to invest in high-growth markets, with a total of $1.2 billion allocated to Class A apartments in the last 10 months. RPM Living will manage the property, which is situated in a prime location near upscale shopping and dining, signifying KKR's commitment to the Phoenix market.

KKR has announced its agreement to acquire Neighborly®, the largest provider and franchisor of home service brands, from Harvest Partners. This acquisition aims to strengthen Neighborly's position in the market, which includes over 4,800 franchises serving more than 10 million customers across various service categories. The deal is expected to close in Q3 2021, pending regulatory approvals. Both KKR and Neighborly's leadership are optimistic about the growth potential and strategic synergies this merger brings, especially as they focus on delivering exceptional customer service.

KKR has announced the final closing of KKR Real Estate Partners Europe II (REPE II), a fund dedicated to real estate investments in Western Europe, with a total capital of US$2.2 billion. This successor to KKR Real Estate Partners Europe I significantly surpasses the original fund's $739 million commitment. With over $700 million already committed to logistics and residential opportunities, KKR's European platform is poised for growth. REPE II has garnered diverse global investor support, underlining confidence in KKR's expertise and strategy.

KKR has signed definitive agreements to acquire Global Infrastructure Partners' entire interest in Highway Concessions One (HC1) and seven highway assets totaling 487 kilometers in India. This acquisition aligns with India's government initiative to enhance connectivity, aiming to construct 60,000 kilometers of highway in the next five years. KKR's investment, made from its Asia Pacific Infrastructure Fund, is its third in India and marks its entry into Asia's transport sector. Advisors for KKR include EY, Deloitte, AZB & Partners, and Simpson Thacher & Bartlett.

KKR has appointed Giacomo Picco and Stephanie Yeh as Managing Directors in its global private credit team in New York. These hires enhance KKR's asset-based finance (ABF) strategy, with Picco focusing on receivables and inventory financing, while Yeh will co-lead sourcing ABF investment opportunities in the US. KKR's global credit business manages approximately $165 billion in assets, including $58 billion in private credit. The ABF team has invested over $4 billion across 40 investments since 2016.

Crossover Energy Partners has formed an exclusive relationship with KKR, focusing on delivering innovative renewable energy solutions to large energy users. Crossover aims to drive decarbonization and support renewable initiatives by leveraging its expertise, having developed over 10.5 GW of renewable energy and 11.7 GWh of energy storage in three years. This partnership allows for the origination and management of clean energy projects under KKR’s infrastructure team, enhancing project execution and value generation for investors. KKR has invested over $4.7 billion in renewable assets with a significant capacity.

Voyager Innovations raised US$167 million to enhance financial inclusion in the Philippines via its fintech arm, PayMaya Philippines. Key investors include PLDT, KKR, Tencent, and new investor IFC Financial Institutions Growth Fund. The funding will support PayMaya's expansion into digital banking as it seeks a digital bank license from the Bangko Sentral ng Pilipinas. With over 38 million users, PayMaya aims to provide inclusive financial products such as credit, savings, and insurance to unbanked individuals and MSMEs, facilitating deeper digital payment adoption.

KKR reported significant monetization activities for the period from April 1 to June 24, 2021, achieving over $900 million in gross realized carried interest and investment income. Approximately 65% of this amount is attributed to carried interest, while 35% pertains to realized investment income, driven by strategic sales and dividends. However, this estimate does not predict total revenues for the quarter or the full year, as it excludes other income sources.

Education Perfect (EP), a leading edtech company in Australia and New Zealand, has signed definitive agreements for a majority acquisition by global investment firm KKR and private equity firm Five V Capital. This investment from KKR’s Global Impact Fund aims to enhance EP's growth in providing accessible education solutions and aligns with the United Nations Sustainable Development Goals. EP serves over 1 million students globally and has experienced significant revenue and earnings growth. KKR plans to leverage its expertise to expand EP's international presence and improve educational outcomes.