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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.
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.
KKR has announced a definitive agreement to acquire a majority stake in Vini Cosmetics for approximately US$625 million (INR46 billion). The co-founders, Darshan and Dipam Patel, will maintain significant stakes and roles in the company post-transaction. Founded in 2010, Vini is a leading personal care brand in India with products sold in over 50 countries. KKR's investment is part of its Asian Fund IV, reflecting its commitment to supporting India's innovative companies. The deal is expected to close in July 2021, pending customary conditions.
KKR & Co. Inc. (NYSE: KKR) announced the appointment of Adriane Brown to its Board of Directors, increasing the number of independent directors to ten out of fourteen board seats. Ms. Brown is the Managing Partner of Flying Fish Partners, a venture capital firm focused on AI and machine learning startups in the Pacific Northwest. This addition is expected to enhance the board's expertise and governance, aligning with KKR’s strategy of fostering growth through world-class leadership.
Burning Glass Technologies is merging with Emsi to form a leading labor market analytics firm, with KKR making a follow-on investment in the combined entity. Strada Education Network will exit its investment. The merger aims to provide powerful insights into the labor market, combining real-time job data and government analytics. The newly formed company, named Emsi Burning Glass, will be led by Burning Glass CEO Matt Sigelman. KKR's investment reflects a focus on advancing the United Nations Sustainable Development Goals related to quality education and decent work.