On July 23, 2024, KKR & Co. Inc. announced that it will acquire Janney Montgomery Scott LLC.
KKR & Co. Inc. (“KKR”) announced, on July 23, 2024, that it entered into a definitive agreement to acquire Janney Montgomery Scott LLC (“Janney”). The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the fourth quarter of 2024. Upon the close of the transaction, Janney will become a standalone private company that will continue to operate independently. 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 July 2024, KKR had approximately $600 billion in assets under management. Ardea Partners served as financial advisor to KKR on the transaction.
Janney, based in Philadelphia, is a wealth management, investment banking and asset management firm proving financial planning, asset allocation, and retirement planning services. Janney has over $150 billion in assets under administration.
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