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 & 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.
KKR has released its 2022 Global Macro Outlook, authored by Henry McVey. The report, titled 'A Different Kind of Recovery,' suggests that the upcoming economic recovery will differ significantly from past cycles. Key points include: a Western-driven recovery, sustained high input costs, supply constraints impacting growth, and lagging real rates outside China. McVey emphasizes themes like pricing power, collateral-based cash flows, digitalization, service sector normalization, and environmental investments. The report also discusses macro risks and asset allocation strategies for investors.
KKR has launched a self-storage real estate investment platform named Alpha Storage Properties (ASP), headed by industry veteran Jonathan Perry. KKR's real estate funds have acquired 16 self-storage assets for approximately $300 million, totaling around 11,700 units or 1.2 million square feet, in major growth markets including Austin, Atlanta, and Orlando. The firm aims to leverage its proven investment strategy and expertise to further expand its presence in the self-storage sector, which has shown steady growth over the past 30 years.
Bettcher Industries, a key player in food processing equipment, has been acquired by KKR from MPE Partners. Effective immediately, Dan Daniel, KKR Executive Advisor, is appointed Chairman, supporting CEO Tim Swanson in strategic growth initiatives. KKR emphasizes employee engagement, allowing all workers to share in ownership benefits and investing in training. This acquisition aims to enhance Bettcher's market position and foster innovation in food processing automation.
Anchorage Digital has successfully closed a $350 million Series D funding round, led by KKR, valuing the company at over $3 billion. The investment aims to expand Anchorage's infrastructure and services as institutional demand for crypto rises. Notable participants in the funding include Goldman Sachs and PayPal Ventures. Anchorage Digital, the first crypto-native company awarded a banking charter, plans to use the funds to enhance its product offerings and grow its team. This round marks KKR's inaugural investment in a digital asset company.