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 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 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 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 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.
KiotViet, a prominent platform for micro, small, and medium enterprises (MSMEs) in Vietnam, has secured US$45 million in Series B funding, spearheaded by KKR, a global investment firm. This investment aims to enhance KiotViet's offerings, including point-of-sale and inventory management services, to over 110,000 MSME customers. KiotViet serves a sector contributing to approximately 40% of Vietnam's economy and plans to expand its financial services. The funding emphasizes KKR's commitment to backing high-growth technology companies in Southeast Asia.
KKR has officially signed agreements to acquire Ritchies Transport Limited, a prominent transportation operator in New Zealand. This marks KKR's inaugural infrastructure investment in the country, aimed at enhancing local connectivity and supporting the growth of the public transport network. Founded in 1935, Ritchies operates over 1,600 vehicles nationwide. The Ritchie family will retain a stake in the company, with Andrew Ritchie stepping in as the new CEO following Glenn Ritchie's retirement.
The deal is pending customary approvals and completion is expected in four to five months.
KKR announced its first mezzanine loan investment through KKR Real Estate Select Trust Inc. (KREST) to refinance NEMA Chicago, an 800-unit luxury residential building. This property, built in 2019, features 76 stories and state-of-the-art amenities. The investment reflects KREST's strategy of targeting attractive yield through private real estate opportunities. With approximately $32 billion in real estate assets under management as of June 30, 2021, KKR continues to strengthen its position in the real estate market.