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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 launched AV AirFinance Limited, a commercial aviation loan servicer, with expertise in structuring commercial aircraft loans. This new platform aims to offer innovative financing solutions to the aviation sector, supported by a nearly $800 million loan portfolio acquired from CIT Group, consisting of over 50 loans for approximately 60 commercial aircraft. Led by industry veteran Siggi Kristinsson, AV AirFinance is positioned to meet the growing demand for flexible financing solutions in the commercial aviation market.
CIT Group Inc. has agreed to sell its aviation loan portfolio, valued at nearly $800 million, to KKR. The portfolio comprises over 50 loans for approximately 60 commercial aircraft, featuring an average yield in the mid-single digits and an average remaining term of about four years. The transaction will facilitate CIT's exit from its aircraft lending business and allow it to refocus on core sectors. AV AirFinance will service the loans, leveraging its aviation expertise. Completion of the transfer is anticipated by the end of Q2 2021.
Jet Edge International announced a partnership with KKR, securing a credit facility of up to $150 million to enhance its infrastructure and digital initiatives. The funding will facilitate the launch of the AdvantEdge charter management platform, aiming to improve financial predictability in private aviation. This program features three tiers—EDGE 250+, EDGE 500+, and EDGE 900—offering aircraft owners dedicated blocks of charter hours. Jet Edge also aims to expand its client services and marketing efforts with the new capital.
KKR & Co. (NYSE: KKR) has announced that Ralph F. Rosenberg, Global Head of KKR Real Estate, will speak at the Morgan Stanley US Financials, Payments & CRE Conference on June 16, 2021, at 12:30 PM ET. Investors can access a live audio webcast on KKR's Investor Center. A replay will be available shortly after the event. KKR is a prominent global investment firm focused on alternative asset management and capital markets solutions, aiming for attractive investment returns through disciplined strategies and portfolio support.
Optiv Security has been recognized as the top pure-play security solutions integrator in CRN’s 2021 Solution Provider 500 for the fifth consecutive year. This annual ranking evaluates North America’s top integrators and service providers based on services revenue. David Martin, Optiv's chief services officer, credited the award to their commitment to helping clients navigate challenging cybersecurity landscapes. The CRN SP500 list is a standard for identifying top-performing technology integrators, enhancing Optiv's reputation in the cybersecurity market.
Cegid, a prominent provider of business management software, has announced that KKR will acquire a minority stake in the company, valuing it at €5.5 billion. Existing majority shareholder Silver Lake remains committed to supporting Cegid's growth strategy. Cegid, a SaaS pioneer since 2004, serves over 350,000 companies and 4.5 million users globally, boasting strong double-digit revenue growth since 2016. The deal is expected to close by the end of Q3, pending regulatory approvals.
Cloudera (NYSE: CLDR) has announced a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice (CD&R) and KKR in an all-cash deal valued at approximately $5.3 billion. The transaction will take Cloudera private and is expected to close in the second half of 2021. Shareholders will receive $16.00 per share, reflecting a 24% premium over the stock's closing price on May 28, 2021. The Board unanimously approved the deal and recommends approval from shareholders, including support from entities holding 18% of shares.
The Executive Centre (TEC) announced a definitive agreement for acquisition by a consortium led by KKR and TIGA Investments. Founded in 1994, TEC is the leading provider of premium flexible office spaces across Asia Pacific, serving over 32,000 members in 150 centers. With an annual turnover exceeding US$237 million, KKR aims to leverage TEC's growth potential amidst evolving market needs. Current investors HPEF Capital Partners and CVC Capital Partners will exit, while TEC's management retains ownership. The transaction details remain undisclosed.
Silver Lake is set to make a minority investment in Exact, a prominent provider of business and accounting software in the Benelux region. This investment includes CEO Paul Ramakers and existing investor KKR, which maintains its majority stake. Founded in 1984, Exact serves over 9,900 accountants and 550,000 small businesses with its cloud-based solutions. The deal will conclude in Q3 2023, pending regulatory approval. KKR cites strong growth since its 2019 acquisition of Exact, and Silver Lake aims to leverage its expertise to further enhance Exact's expansion strategy.
EQuest Education Group, a major educational services provider in Vietnam, has received investment from KKR to support its expansion and mission of providing affordable access to quality education. EQuest educates over 110,000 students annually across diverse segments, including K-12 schools and digital learning. KKR's investment comes from its Global Impact Fund, focusing on companies that align with the United Nations Sustainable Development Goals, particularly Quality Education. EQuest aims to leverage this support to enhance its educational offerings and further its impact on Vietnam's workforce development.