KKR closed KKR North America Fund XIII (NAX3), an over-subscribed $19 billion fund focused on pursuing opportunistic private equity investments in North America.
KKR and Shriram General Insurance Company signed definitive agreements under which, subject to the receipt of the necessary regulatory approvals, KKR will acquire a 9.99% stake in Shriram General Insurance.
Bowery Farming, a vertical farming company, secured a $150 million credit facility led by private credit accounts managed by KKR.
KKR appointed Joe Bae and Scott Nuttall co-CEOs of the company, with co-founders Henry Kravis and George Roberts set to remain actively involved as executive co-chairmen of KKR’s board of directors. The leadership transition is effective immediately.
KKR has agreed to invest $40 million in preferred equity in Jet Edge International an Ohio-based global leader in full-service private aviation responsible for operating the largest fleet of Challenger and Gulfstream aircraft available for charter in the United States.
KKR formed Strategic Lease Partners, a new platform to invest in a diversified portfolio of triple-net lease real estate. KKR’s investment will position the platform to acquire more than $3 billion in assets. Andrés Dallal and Joseph Mastrocola will join SLP as partners.
Hyatt Hotels entered into a definitive agreement to acquire Apple Leisure Group from affiliates of KKR and KSL Capital Partners for $2.7 billion in cash. Hyatt secured a financing commitment from J.P. Morgan to help support the acquisition.
KKR released its 2021 mid-year outlook piece by Henry McVey, CIO of KKR’s Balance Sheet and head of Global Macro and Asset Allocation. The key message to investors is to get long pricing power and collateral-based cash flows.
KKR appointed Giacomo Picco and Stephanie Yeh managing directors for the firm’s global private credit team based in New York. Picco will lead a new effort focused on receivables and inventory financing and Yeh will be responsible for co-leading sourcing of ABF investment opportunities in the U.S.
Credit funds and accounts managed by KKR agreed to provide a credit facility of up to $150 million to Jet Edge International, a provider of full-service private aviation that operates a fleet of managed Challenger and Gulfstream aircraft in the United States.