Kkr & Co Inc Stock Price, News & Analysis

KKR, a leading global investment firm, has acquired a portfolio of four Class A industrial warehouses in Central Florida. The properties, totaling approximately 1.2 million square-feet, are strategically located at the intersection of Interstate 4 and U.S. Route 27 in southwest Orlando. These assets are 100% leased to five high-quality tenants, including investment grade public companies and regional market leaders.

The acquisition was made through KKR's Real Estate Partners Americas III fund and brings KKR's total warehouse acquisitions in the U.S. to nearly eight million SF since the start of the year. Ben Brudney, a Managing Director in KKR's Real Estate group, highlighted the strong demand drivers and new supply in prime transit-adjacent distribution locations in southwest Orlando.

KKR's global real estate business manages $75 billion in assets as of June 30, 2024, with approximately 150 dedicated professionals across 16 offices.

KKR & Co. Inc. (NYSE: KKR) has announced plans to release its financial results for the third quarter 2024 on Thursday, October 24, 2024, before the opening of trading on the New York Stock Exchange. A conference call to discuss the results will be held on the same day at 10:00 a.m. ET. Investors can access the call by dialing (877) 407-0312 (U.S. callers) or +1 (201) 389-0899 (non-U.S. callers). The call will also be broadcast live on KKR's website, with a replay available afterwards.

KKR is a global investment firm offering alternative asset management, capital markets, and insurance solutions. It sponsors investment funds in private equity, credit, and real assets, and has strategic partners managing hedge funds. KKR's insurance subsidiaries, under Global Atlantic Financial Group, offer retirement, life, and reinsurance products.

FS KKR Capital Corp. (NYSE: FSK) has announced its plans to release third quarter 2024 results after the NYSE closes on November 6, 2024. The company will host a conference call on November 7, 2024, at 9:00 a.m. ET to discuss these results. FSK's board has also declared a fourth quarter 2024 distribution of $0.70 per share, comprising a base distribution of $0.64 and a supplemental distribution of $0.06. This distribution will be paid around December 18, 2024, to stockholders of record as of December 4, 2024.

Interested parties can join the conference call via phone or webcast. An investor presentation will be available on FSK's website after market close on November 6. A replay of the call will also be accessible on the company's website.

Global Atlantic Financial Group has appointed Tim Bridgers as Head of Preneed Sales, effective immediately. Bridgers will oversee all aspects of Global Atlantic's preneed sales, including agency and funeral home relationships, as well as strategies for marketing, pricing, and product development. He succeeds Kelly Milberger, who is retiring.

Bridgers joins from Live Oak Bank, where he most recently served as Senior Vice President, Head of Funeral Home and Property Management Lending. His extensive experience in the funeral home industry and track record in providing financing solutions to funeral home owners are expected to be valuable assets in his new role.

Based in Wilmington, North Carolina, Bridgers holds an MBA in Corporate Finance and Leadership from the University of North Carolina at Chapel Hill. He is a Cairn Coin recipient and a former member of the Board of Trustees of Selected Educational Trust.

KKR, a leading global investment firm, has acquired The Parking Spot (TPS), the nation's leading near-airport parking provider, from Green Courte Partners. TPS operates 47 strategically located parking properties across the U.S., offering convenient and affordable parking options with reliable shuttle services. The company's management team will continue to lead operations.

Key points:

• Financial terms were not disclosed
• TPS expanded from 17 properties in 2011 to 47 today under Green Courte's ownership
• Green Courte will continue to own 15 near-airport parking facilities operated by TPS
• KKR made the investment through its Global Infrastructure Strategy
• Morgan Stanley advised KKR, while Evercore advised Green Courte

Peregrine Energy Solutions , a clean energy platform focusing on utility-scale energy storage, has secured a credit facility from KKR-managed insurance accounts that can provide financing for up to $250 million in assets. This strategic financing will support Peregrine's growing development pipeline, enabling the company to finance equipment, interconnection, and offtake credit security.

Founded in April 2022, Peregrine has developed a pipeline of 22 GWh of storage across five ISOs and 11 states, with approximately 37 projects. The company's team brings over 20 GW of renewable energy and storage facilities development experience. In August 2023, Peregrine announced an agreement with AB CarVal to raise over $700 million in credit, equity, and debt for its projects.

Powin, a global leader in battery energy storage solutions, has secured a revolving credit facility of up to $200 million primarily from insurance accounts managed by KKR. This facility will support Powin's working capital needs, drive innovation, and enhance financial flexibility as it expands its leadership in the storage industry.

The strengthened capital position improves Powin's ability to meet surging demand in the rapidly expanding global energy storage sector. Bloomberg New Energy Finance forecasts the energy storage market to exceed 100 gigawatt-hours of capacity in 2024, growing at an annual rate of 21% to reach 442 gigawatt-hours by 2030.

Powin CEO Jeff Waters expressed excitement about KKR's support, stating it will enable the company to accelerate expansion, drive innovation, and maximize customer value. The strategic liquidity package underscores investor confidence in Powin's vision and future growth, with equity investors including Greenbelt Capital Partners, Trilantic, and Energy Impact Partners.

Körber Supply Chain Software, a joint venture between Körber AG and KKR, has completed its acquisition of MercuryGate International Inc., a leading provider of transportation management systems (TMS). This acquisition, one of the largest in the supply chain software industry this year, adds approximately 25% to Körber's annual net revenue. It enhances Körber's vision of providing integrated solutions across the entire supply chain, from order management to warehouse and transportation.

The company also announced two key appointments: Tim Moylan as Chief Commercial Officer and Beth Hendriks as Chief Technology Officer. Moylan, with over 30 years of experience, will lead the global sales and demand generation organization. Hendriks, formerly CTO at MercuryGate, will focus on research and development to ensure rapid feature delivery and faster implementation.

KKR has announced an agreement to sell GeoStabilization International (GSI) to Leonard Green & Partners (LGP). The sale delivers a five-fold return on KKR's equity investment. All 900+ GSI employees will receive substantial cash payouts on their ownership stakes, with the longest-tenured hourly employees each receiving over $325,000 in proceeds.

Since KKR's acquisition in December 2018, GSI has experienced significant growth, nearly tripling its revenue and EBITDA. The company expanded its services, including into roadway safety, and enhanced worker safety. The transaction reflects the success of KKR's all-employee ownership program, which has fostered a strong ownership culture at GSI.

Employee payouts will range from three months to over three years of annual pay, depending on tenure and job level. KKR and GSI were advised by Harris Williams and UBS as M&A advisors, and Kirkland & Ellis as legal advisor on the transaction.