On November 29, 2023, KKR & Co. Inc. announced that it will acquire the remaining stake of Global Atlantic Financial Group.
Under the terms of the agreement, KKR & Co. Inc. (“KKR”) will acquire the remaining 37% ownership stake in Global Atlantic Financial Group (“Global Atlantic”), increasing KKR’s ownership to 100%. The transaction is expected to close in the first quarter of 2024. Further terms of the deal were not disclosed.
KKR (NYSE:KKR), based in 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 May 2023, KKR had approximately $510 billion in assets under management.
Global Atlantic, based in New York, is an insurance company focusing on retirement and life insurance needs of individuals and institutions. As of December 2023, Global Atlantic had approximately $158 billion in assets under management. Barclays provided the fairness opinion for Global Atlantic.
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