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Bailey McCann, Opalesque New York:

KKR will acquire the remaining 37% stake of leading insurance company Global Atlantic, increasing KKR's ownership to 100%. KKR will pay $2.7 billion for the stake in an all-cash transaction.

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

Since 2021, KKR has served as Global Atlantic's asset manager. Global Atlantic's assets under management have grown significantly, up from $72 billion in 2020 to $158 billion today. Global Atlantic has also established new business relationships in Hong Kong, Singapore and Japan.

"The strategic partnership we envisioned three years ago has exceeded our expectations," said Joe Bae and Scott Nuttall, Co-Chief Executive Officers of KKR in a statement on the transaction. "It has been transformative for both businesses and a great cultural fit that has enabled us to contribute to Global Atlantic's continued strong performance and success, while also being a key driver of growth for KKR. We expect the new ownership structure will foster even closer collaboration, allowing us to fully leverage our complementary strengths and grow faster together."

KKR also announced a series of other strategic initiatives that are contingent on the closing of the Global Atlantic transaction.

KKR will launch a new business segment - Strategic Holdings. The new segment will principally be comprised of KKR's Core Private Equity balan......................

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