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.
Cloudera entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice and KKR in an all-cash transaction valued at approximately $5.3 billion. J.P. Morgan, Bank of America and KKR Capital Markets committed to provide debt financing for the transaction.
Craig Farr joined Apollo Global Management as a senior partner to lead the firm’s capital solutions activities. In this newly created role, Farr will spearhead Apollo’s centralized origination, structuring and distribution platform.
KKR appointed Jim Lees and Vaibhav Piplapure managing directors for its global private credit team to augment asset-based finance investing opportunities in the specialty lending and private asset-based finance markets.
Sycamore Partners, KKR, Blackstone Credit and other first lien term lenders delivered $225 million in new capital for Belk in the company’s restructuring support agreement.
CIT’s healthcare finance group arranged a $75 million senior secured asset-based credit facility for One Call Corporation, a Jacksonville, FL-based service provider to the workers’ compensation industry.