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) announced that Scott C. Nuttall, Co-President and Co-Chief Operating Officer, will present at the Goldman Sachs US Financial Services Conference on December 8, 2020, at 1:00 PM ET. A live webcast of the presentation will be available on KKR’s Investor Center website. For those unable to join live, a replay will be accessible post-event. KKR is a global investment firm managing multiple asset classes, including private equity, credit, and real assets, aiming to generate attractive returns for its investors.
FS/KKR Advisor announced a merger between FS KKR Capital Corp (FSK) and FS KKR Capital Corp II (FSKR) on Nov. 24, 2020. This merger will create one of the largest business development companies in the U.S., with $14.9 billion in assets and $7.2 billion in net asset value. FSK will remain as the surviving entity on NYSE under the symbol 'FSK.' The merger aims to enhance market presence, reduce expenses, and increase capital access, projected to yield approximately $5 million in annual synergies. The transaction is expected to close in the second or third quarter of 2021.
KKR, a prominent global investment firm, has acquired four industrial distribution properties in the greater Atlanta area for approximately $136 million. The properties encompass 1.6 million square feet, including three last-mile distribution centers and one new fulfillment center leased to a high-quality tenant. This move is part of KKR's strategy to expand its industrial portfolio in high-growth markets like Atlanta, leveraging strong supply-demand fundamentals. KKR has over 18 million square feet of industrial properties across major U.S. metropolitan areas.
KKR has acquired an industrial distribution property in Phoenix for approximately $32 million, expanding its industrial footprint in the region to nearly two million square feet. The Class A facility, built in 2001, is fully leased to a high-quality tenant for about five and a half years. This acquisition, facilitated by Cohen Asset Management and brokered by Cushman & Wakefield, is part of KKR's strategy to diversify its real estate investments, targeting the growing demand for distribution centers due to increasing e-Commerce activities.
KKR announced its agreement to acquire Argenta, a prominent animal health-focused pharma services platform, from the Tomlinson Group, which will retain a significant ownership stake. Founded in 2006, Argenta is recognized for its comprehensive contract research and manufacturing services in animal health. KKR's investment aims to accelerate Argenta's growth and enhance its service offerings in the U.S. and Europe. Financial details remain undisclosed, and the acquisition is subject to regulatory approvals.
KKR has announced the formation of Zeus Health, a $100 million platform aimed at investing in emerging medical device companies, in collaboration with medical device veteran Duke Rohlen. This initiative builds on KKR's past successes with Rohlen, including investments in Spirox and Ajax Health, demonstrating KKR's commitment to advancing medical technologies. Funded through the Health Care Strategic Growth Fund, KKR has a strong track record with $14 billion invested in health care since 2004. The partnership aims to leverage Rohlen's expertise to bring innovative devices to market.
KKR has announced an investment in CMC Machinery, an Italy-based manufacturer of automated packaging solutions focused on sustainability. CMC, founded in 1980, specializes in innovative e-commerce 3D on-demand packaging technology that reduces material consumption. The Ponti family continues to lead the company, which employs around 200 people. This investment is part of KKR's Global Impact Fund strategy, aimed at contributing to the UN's Sustainable Development Goals, specifically responsible consumption and production. Financial details of the investment remain undisclosed.
Walmart, KKR, and Rakuten have signed agreements for KKR to acquire a 65% majority stake in Seiyu GK, while Rakuten will take a 20% stake via a new subsidiary, valuing the transaction at ¥172.5 billion (approximately $1.6 billion). Walmart will retain a 15% interest. The partnership aims to enhance Seiyu's digital transformation and retail innovation, leveraging the combined expertise of all parties. This investment supports Seiyu's strategy to improve customer experience and operational performance in Japan's retail market.
KKR has appointed Jim Rowan, former CEO of Dyson, as a Senior Advisor to its Asia Private Equity team. Rowan brings over 30 years of experience in the consumer and technology sectors, having led Dyson through significant e-commerce growth from 2017 to 2020. His role at KKR aims to bolster the firm's commitment to enhance technology and digital strategies within its portfolio of over 100 companies, which collectively account for more than $7 billion in IT spending and over $10 billion in marketing annually.
FS KKR Capital Corp. (NYSE: FSK) reported its financial results for Q3 2020, highlighting a net investment income of $0.63 per share, down from $0.89 per share in Q3 2019. The company announced a fourth quarter distribution of $0.60 per share, payable on January 5, 2021. Total fair value of investments decreased to $6.649 billion from $7.357 billion year-over-year. However, a total net gain of $1.06 per share was noted compared to a loss in the same quarter last year. The net asset value per share rose 4.7% to $24.46.