KKR Completes Acquisition of Remaining 37% of Global Atlantic

NEW YORK, Jan. 3 -- Global Atlantic Financial Group, a U.S.-focused retirement, life insurance and reinsurance company, issued the following news release on Jan. 2, 2024:

KKR & Co. Inc. (NYSE: KKR) and The Global Atlantic Financial Group LLC (together with its subsidiaries, "Global Atlantic") today announced the closing of the previously-announced transaction in which KKR is acquiring the remaining 37% of Global Atlantic, increasing KKR's ownership to 100%.

KKR acquired a majority of Global Atlantic in 2021, and since that time, KKR has served as Global Atlantic's asset manager, offering access to its global investment and origination capabilities for the benefit of Global Atlantic's policyholders.

"Since day one, Global Atlantic has been a great fit for KKR, both from a business and cultural standpoint. With this new ownership structure in place, we look forward to even closer collaboration with Global Atlantic so that we can realize more of the synergies that we have uncovered in the first three years of our strategic partnership," said Joseph Bae and Scott Nuttall, Co-Chief Executive Officers of KKR.

"KKR and Global Atlantic are a powerful combination. Our shared culture and commitment to excellence continues to enhance our ability to think - and invest - longer-term and deliver compelling solutions for our clients and policyholders. We are thrilled for what lies ahead as a wholly-owned subsidiary of KKR," said Allan Levine, Co-Founder, Chairman & Chief Executive Officer of Global Atlantic.

Global Atlantic will continue to be led by its management team and operate under the Global Atlantic brand.

* * *

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com.

* * *

About Global Atlantic

Global Atlantic Financial Group is a leading insurance company meeting the retirement and life insurance needs of individuals and institutions. With a strong financial foundation and risk and investment management expertise, the company delivers tailored solutions to create more secure financial futures. The company's performance has been driven by its culture and core values focused on integrity, teamwork, and the importance of building long-term client relationships. Global Atlantic is a wholly-owned subsidiary of KKR, a leading global investment firm. Through its relationship, the company leverages KKR's investment capabilities, scale and access to capital markets to enhance the value it offers clients.

* * *

Original text here: https://www.globalatlantic.com/news/KKR-completes-acquisition-of-global-atlantic