KKR to buy fund administrator Gen II for $5.1 billion
Global investment firm KKR has agreed to buy private capital fund administrator Gen II Fund Services for $5.1 billion including debt. KKR will buy Gen II from Hg, General Atlantic and other minority investors. Gen II provides tax, compliance, treasury and technology services to private equity, private credit and other private-market managers, serving over 275 investment firms with more than $2 trillion in private-fund capital. The transaction is expected to close in 2027.
1 billion deal including debt, gaining exposure to infrastructure supporting private markets. Here are some of the details. KKR will buy Gen II from Hg, General Atlantic and other minority investors. Hg and General Atlantic invested in Gen II in 2020.
Gen II provides tax, compliance, treasury and technology services to private equity, private credit and other private-market managers. The company serves more than 275 investment firms representing more than $2 trillion in private-fund capital. Gen II's co-founder and CEO Steven Millner will continue to lead the company, KKR said. The transaction is expected to close in 2027.
The deal further expands KKR's presence in businesses that underpin private markets. 4 billion. com; +91 9916719147)