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 launched Strategic Lease Partners (SLP), a platform aimed at investing in a diversified portfolio of triple-net lease (NNN) real estate. The firm plans to acquire over $3 billion in assets, primarily from its credit and real estate funds. Veteran investors Andrés Dallal and Joseph Mastrocola will serve as Partners in SLP, focusing on sale-leaseback solutions for corporate tenants. The initiative aims to provide comprehensive real estate solutions, leveraging KKR's extensive capabilities in real estate, credit, and capital markets.
Azurity Pharmaceuticals will acquire Arbor Pharmaceuticals, backed by investors including KKR. The merger aims to create a stronger company focused on innovative products for underserved patient needs. The deal, pending regulatory approval, emphasizes both firms' combined legacy and diversified offerings in cardiovascular and central nervous system markets. Financial terms remain undisclosed. NovaQuest Private Equity expressed support, highlighting the vision for patient-centric solutions. The transaction is set to close in September, further enhancing Azurity's product portfolio.
KKR announced its latest KKR Relief Effort grants, awarding $10,000 each to 72 small business owners across 61 cities and committing over $4.7 million to 28 nonprofits globally. Since 2020, KKR has supported 231 small businesses and over $30 million to 110 nonprofits. With an additional $1.5 million pledge for 2022, KKR's total commitment to small businesses reaches $4 million. Notably, 69% of grant recipients are women-owned and 81% are minority-owned, with 74% stating the grant was vital for their business survival during the pandemic.
KKR has agreed to sell a 14.5 million square foot industrial portfolio to Oxford Properties for approximately $2.2 billion. The portfolio includes 149 distribution buildings across 12 major U.S. markets. This strategic move follows KKR's consolidation of high-barrier infill warehouses since 2018, reflecting significant growth in logistics driven by e-commerce. KKR will retain over 20 million square feet of industrial property post-sale. Oxford aims to expand its U.S. industrial operations through this acquisition, which aligns with its global investment strategy.
KKR Income Opportunities Fund (NYSE: KIO) will hold an investor update call on August 17, 2021, at 11:00 AM ET, featuring insights on market conditions and portfolio performance for Q2 2021. Hosted by Partners Jeremiah Lane and Aaron Dalrymple, the call aims to provide investors with crucial updates. The Fund primarily targets high current income through investments in secured and unsecured loans, as well as high-yield corporate debt. Investors are advised to review the Fund's investment risks and objectives carefully before participation.
FS KKR Capital Corp. (NYSE: FSK) reported a strong second quarter for 2021, achieving net investment income of $116 million, or $0.77 per share, up from $0.63 per share in the previous quarter. The net asset value (NAV) increased by 3.1% to $26.84 per share. FSK's merger with FS KKR Capital Corp. II on June 16 boosted assets to approximately $15.7 billion. The company plans to distribute a $0.65 per share dividend for Q3 2021. Total investments stood at $14.7 billion, with a weighted average yield on debt investments at 9.2%.
KKR has acquired Park 70, a Class A industrial building in Aurora, Colorado, totaling approximately 164,000 square feet. This marks KKR's third industrial real estate acquisition in the Denver market this year, executed through its Americas opportunistic equity real estate strategy. Completed in 2020, Park 70 features a 32-foot clear height and is strategically located near major highways. KKR continues to grow its industrial real estate portfolio, owning over 35 million square feet across the U.S. and managing approximately $32 billion in real estate assets worldwide as of mid-2021.
KKR & Co. Inc. reported its second-quarter 2021 results, available on their Investor Center website. A conference call to discuss these results is scheduled for August 3, 2021, at 10:00 a.m. ET, accessible via phone or live stream. KKR is a prominent investment firm specializing in alternative asset management, capital markets, and insurance solutions, focusing on generating strong investment returns through a disciplined approach and supporting growth in its portfolio companies.
KKR has acquired a 505,906 square foot industrial distribution property in Bloomington, California, fully leased to an investment-grade tenant on a long-term basis. This acquisition enhances KKR's industrial real estate footprint in the Inland Empire to nearly four million square feet. The property, completed in 2019, features modern amenities, including a 36’ clear height. KKR's investment strategy aligns with increasing e-Commerce demands for advanced distribution centers in key locations. As of March 31, 2021, KKR's real estate assets under management amounted to approximately $28 billion across various regions.
KKR Real Estate Select Trust Inc. (KREST) has acquired the HQ @ First, a 603,666 square-foot office campus in Silicon Valley, from MORI TRUST CO., LTD. The property, which is fully leased to a leading technology company, features modern amenities and is located in a prime area. This acquisition grows KREST's portfolio value to over $1 billion and is part of its strategy targeting high-quality commercial real estate. KKR has made over $4 billion in property acquisitions on the West Coast in the past 24 months, highlighting its commitment to real estate investment.