KKR Launches Equipment Finance Platform Akrapoint Commercial Capital

Business Wire

Seasoned management team to lead new platform focused on vocational, specialty trailer and industrial equipment financing

NEW YORK--(BUSINESS WIRE)--
KKR, a leading global investment firm, today announced the launch of Akrapoint Commercial Capital (“Akrapoint” or “the Company”), a mid-ticket equipment finance company established by a team of experienced industry professionals and KKR. Investment funds managed by KKR will commit $350 million, via KKR’s Asset Based Finance strategy, to support the launch.

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Akrapoint combines stable, long-term capital with decades of experience in equipment finance. It will focus on financing vocational assets, specialty trailers and industrial equipment for small and middle-market businesses across a broad range of U.S. industries, including manufacturing, energy and power, sanitation and waste services, construction, and transportation and logistics. The platform will bring together manufacturers, equipment vendors and customers with flexible financing solutions to support equipment purchases and business growth.

Akrapoint is led by Chief Executive Officer Nate Smith, an experienced and entrepreneurial executive who most recently spent nearly a decade at Trans Lease, where he ran credit, portfolio management, funding and compliance, and significantly expanded the company’s capital markets function. A seasoned management team with decades of experience in equipment finance will support Mr. Smith, along with Gary Shivers, a 30-year veteran who will chair Akrapoint’s Board of Directors. Mr. Shivers previously founded and scaled Navitas Credit Corp into a national platform with more than $1.8 billion in assets and co-founded and held senior leadership roles at Advanta Leasing Corp and Marlin Business Services (now PEAC Solutions) earlier in his career.

“Demand for vocational, specialty trailer and industrial equipment is growing fast, and the operators who run that equipment need a financing partner who understands their business,” said Nate Smith, CEO & Co-Founder of Akrapoint. “Akrapoint was built to meet this growing need, pairing disciplined underwriting with KKR’s long-term capital so mid-ticket equipment operators have a financing partner they can count on through every cycle.”

“As reshoring, electrification and supply chain resilience drive a multi-year capital spending cycle, demand for essential equipment keeps climbing,” said Daniel Pietrzak, Partner and Global Head of Private Credit at KKR. “Akrapoint's asset-backed cash flows offer compelling downside protection that aligns well with our long-term capital, and we believe Nate, Gary and their team are well positioned to build a leading platform in the space.”

KKR established its ABF strategy in 2016 and has since grown the platform significantly, with more than $91 billion in ABF assets under management and a team of approximately 60 ABF professionals globally. KKR’s ABF portfolio focuses on four key themes: Consumer/Mortgage Finance, Commercial Finance, Hard Assets, and Contractual Cash Flows. The firm has more than 20 captive ABF platforms across these four segments, enabling proprietary sourcing and structuring of investments. KKR’s broad, multi-sector approach offers flexibility to invest across a diverse range of industries, including aviation, real estate, mortgages, royalties and equipment leasing, among others.

Nomura Securities International, Inc. served as financial advisor in connection with the transaction, and Kirkland & Ellis LLP served as legal counsel to KKR.

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Akrapoint

Akrapoint Commercial Capital is a mid-ticket equipment finance company established by a team of experienced industry professionals and KKR. Akrapoint provides flexible financing solutions that help manufacturers, equipment vendors and customers purchase and use the equipment they need to drive the growth of their businesses. Akrapoint is headquartered in Denver, Colorado with additional offices across the U.S. For more information, please visit www.Akrapoint.com.