KKR to acquire Gen II in $5.1 billion deal
KKR is set to purchase Gen II Fund Services, a private capital fund administrator, for $5.1 billion, which includes debt. This acquisition will expand KKR's reach into infrastructure supporting private markets.
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12:15:31 AM UTC
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KKR agreed to buy Gen II Fund Services from HgCapital LLP, General Atlantic, and minority investors for a total enterprise value of $5.1 billion. Deal targets Gen II’s next growth phase in private capital fund administration as managers seek scaled, technology-driven services. Gen II serves more than 275 investment managers representing over $2 trillion in assets under administration. CEO Steven Millner will continue to lead the business under KKR ownership. Transaction is expected to close in 2027. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. HgCapital LLP published the original content used to generate this news brief on October 06, 2026, and is solely responsible for the information contained therein. (C)
1 billion deal including debt, adding exposure to infrastructure that supports private markets.