KKR to buy fund administrator Gen II in $5.1 billion deal including debt
KKR to buy fund administrator Gen II in $5.1 billion deal including debt Oct 5 (Reuters) - Global investment firm KKR KKR.N said on Monday it had agreed to buy private capital fund administrator Gen II Fund Services in a $5.1 billion deal including debt, gaining exposure to infrastructure supporting private markets.
Here are some of the details.
KKR will buy Gen II from Hg, General Atlantic and other minority investors. Hg and General Atlantic invested in Gen II in 2020.
Gen II provides tax, compliance, treasury and technology services to private equity, private credit and other private-market managers.
The company serves more than 275 investment firms representing more than $2 trillion in private-fund capital.
Gen II's co-founder and CEO Steven Millner will continue to lead the company, KKR said.
The transaction is expected to close in 2027.
The deal further expands KKR's presence in businesses that underpin private markets.
In May, KKR acquired Arctos, an investment firm that provides capital solutions to alternative asset managers and invests in sports franchises, in a deal initially valued at about $1.4 billion.
(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Subhranshu Sahu)
((rishabh.jaiswal@thomsonreuters.com; +91 9916719147))
Recent news on KKR & Co
See all newsBrief: KKR FS Income Trust Issues 146,235.262 Class I Shares On October 1, 2026 - SEC Filing
Brief: KKR FS Income Trust Select Issues 136,926.789 Class I Shares For $3.40 Million On October 1, 2026
Brief: KKR Infrastructure Conglomerate - Determines Transactional Net Asset Value Per Share As Of Sept 30, 2026 - SEC Filing
Brief: Kkr Private Equity Conglomerate - Transactional Net Asset Value Per Share Ranges From $35.66 To $39.36 As Of Sept 30, 2026 Across Shares- SEC Filing
Italy's TIM says submarine unit sale progressing despite closing delay