Monday, December 23

Tag: KKR &

Startup Ajax Health Extends Medtech Innovation Model to Hologic
30Nov By adminNo Comments
World

Startup Ajax Health Extends Medtech Innovation Model to Hologic

Nov. 30, 2023 6:01 am ET|WSJ ProStartup Ajax Health’s model for spurring corporate innovation is gaining traction with investors and large medical-technology companies.Menlo Park, Calif.-based Ajax creates turnkey innovation platforms for commercial-stage medtech players, and it has teamed with investment firm KKR and medtech company Hologic to launch Maverix Medical, a startup formed to advance diagnostics and medical devices to treat lung cancer.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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KKR to Buy Remaining Stake in Global Atlantic for $2.7B
29Nov By adminNo Comments
World

KKR to Buy Remaining Stake in Global Atlantic for $2.7B

KKR has moved to buy the outstanding stake in doesn’t already own in insurance company Global Atlantic for about $2.7 billion in cash.The private-equity firm said it will pick up the 37% interest in Global Atlantic as it looks to develop a closer collaboration with a company that has been a key element in KKR’s growing real-estate credit and asset-based financing businesses.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Private Debt Was Supposed to Collapse When Rates Rose. Instead It Is Everywhere.
13Nov By adminNo Comments
World

Private Debt Was Supposed to Collapse When Rates Rose. Instead It Is Everywhere.

Wall Street’s doom-mongers spent years warning that private lenders would be the next bubble to burst when central banks tightened policy. Instead, the funds are becoming even more ubiquitous as companies scramble to refinance debt in a higher interest-rate environment.Take PetVet Care Centers. The Westport, Conn.-based company operates 450 veterinary clinics and hospitals across the U.S. and has been owned by private-equity giant KKR since 2018. It has been a successful acquisition, but the company is facing a wall of debt maturities that can only be refinanced at higher cost. KKR is providing $600 million of additional equity to ease the burden, while private-debt lender Blue Owl Capital will extend PetVet a $2.3 billion senior loan.Copyright ©2023 Dow Jones & Company, Inc. All Righ...
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Private Equity, Now Featuring Less Equity
10Nov By adminNo Comments
Money

Private Equity, Now Featuring Less Equity

Giants like Apollo, Blackstone and KKR made their names in the business of private equity. But today, the thing that investors seem most excited about is growth in their private credit businesses.Recent flows of money into what are now known as alternative-asset managers have often tilted toward alternative forms of lending and away from classic private-equity buyouts. Buyout fundraising has been slowed in part by the difficulty of exiting old deals. Real-estate funds have also been hit by worries about things like commercial property values.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Telecom Italia Board Accepts KKR’s $20 Billion Offer for Network Assets
6Nov By adminNo Comments
World

Telecom Italia Board Accepts KKR’s $20 Billion Offer for Network Assets

Updated Nov. 5, 2023 11:54 pm ETThe board of Telecom Italia SpA has approved the sale of its fixed-line network to KKR & Co. for more than $20 billion, part of a plan by the former monopoly to reduce increasingly unmanageable amounts of debt.The Italian telecommunications company said late Sunday that it had voted 11-3 to accept the binding offer by the U.S. private equity group for Telecom Italia’s fixed-line and other assets.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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KKR’s Chip Play Will Win Big in Japan
25Oct By adminNo Comments
Money

KKR’s Chip Play Will Win Big in Japan

Private-equity giant KKR has scored a win in Japan, and with a chip price rebound probably around the corner, their timing looks impeccable. Investors should consider going along for the ride.Semiconductor equipment maker Kokusai Electric will start trading Wednesday in Tokyo after raising around $720 million in an initial public offering last week. That makes the deal Japan’s largest IPO in almost five years, according to Dealogic. KKR has owned the company—which used to be controlled by Hitachi—since taking it private in 2018. Kokusai is valued at $2.8 billion at its IPO price, potentially netting KKR a return of more than 60% in Japanese yen terms, excluding leverage. Kokusai unloaded its video and communications systems business after KKR’s takeover.Copyright ©2023 Dow Jones & Com...
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Telecom Italia Board to Evaluate KKR Bids for Network Assets Next Month
23Oct By adminNo Comments
World

Telecom Italia Board to Evaluate KKR Bids for Network Assets Next Month

Telecom Italia’s board of directors will meet next month to examine a binding offer for its fixed-network business and a nonbinding bid for its stake in Sparkle submarine-cable unit made by private-equity group KKR.The Italian telecommunications said Sunday that its board will meet on Nov. 3 to evaluate the bids, hold an informal meeting the following day to continue discussions with management and advisors and meet again formally on Nov. 5 to deliberate.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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