On November 15, 2021, Beacon Pointe Advisors, LLC announced a definitive agreement to receive an investment from KKR & Co. Inc.
Under the terms of the transaction, KKR & Co. Inc. (“KKR”) will invest in Beacon Pointe Advisors, LLC (“Beacon Pointe”). The Beacon Pointe team will continue to own over 50% of the company and Abry Partners will fully exit its investment in Beacon Pointe. The transaction is expected to close before year-end, subject to customary closing conditions. Further terms were not disclosed.
Beacon Pointe, based in Newport Beach, California, is a registered investment adviser that helps clients determine investment goals, establish asset allocation guidelines, evaluate fund performance, screen investment managers for selection, and develop strategic financial plans. Beacon Pointe has approximately $20 billion in assets under management.
KKR (NYSE:KKR), based in New York, New York, is a global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. As of June 30, 2021, KKR had approximately $429 billion in assets under management.
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