KKR Strikes Deal to Buy Private-Capital Fund Administrator Gen II
Global investment firm KKR has agreed to acquire private-capital fund administrator Gen II Fund Services for a total enterprise value of $5.1 billion, including debt. KKR is purchasing Gen II through its Core Private Equity strategy from sellers Hg, General Atlantic, and other minority investors. Led by CEO Steven Millner, the current leadership team will continue managing the company. The transaction plans also involve further investments in Gen II proprietary technology and artificial intelligence-based tools.
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- ✓ KKR agreed to acquire Gen II Fund Services for a total enterprise value of $5.1 billion, including debt.
- ✓ The sellers include Hg, General Atlantic, and other minority investors.
- ✓ KKR is making the acquisition through its Core Private Equity strategy.
- ✓ Steven Millner serves as the CEO of Gen II.
What changed
KKR announced an agreement to purchase Gen II Fund Services for $5.1 billion.
Live updates
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KKR to Buy Gen II Fund Services in $5.1 Billion Deal
Global investment firm KKR has agreed to acquire private-capital fund administrator Gen II Fund Services for a total enterprise value of $5.1 billion, including debt. KKR is purchasing Gen II through its Core Private Equity strategy from sellers Hg, General Atlantic, and other minority investors. Led by CEO Steven Millner, the current leadership team will continue managing the company. The transaction plans also involve further investments in Gen II proprietary technology and artificial intelligence-based tools.
Why it matters
The acquisition highlights growing private equity interest in the fund administration sector as firms seek stable fee-based revenue streams. Gen II operates as a major global player in private capital fund administration. Sellers Hg and General Atlantic are making a full exit from their investments in the firm.
What is confirmed
- KKR agreed to acquire Gen II Fund Services for a total enterprise value of $5.1 billion, including debt.
- The sellers include Hg, General Atlantic, and other minority investors.
- KKR is making the acquisition through its Core Private Equity strategy.
- Steven Millner serves as the CEO of Gen II.
What to watch next
- Regulatory approvals required to close the transaction
- Finalization of the acquisition timeline
confidence 100%Sources used for this update (13)
- wsj.com — Exclusive | KKR Strikes Deal to Buy Private-Capital Fund Administrator Gen II
- Business Wire — KKR to Acquire Gen II Fund Services for More Than $5 Billion from Hg and General Atlantic
- TradingView — REG - HgCapital Trust PLC - Hg announces the full exit of Gen II
- pehub.com — KKR bets on fund admin with $5.1bn Gen II Fund Services deal; Main picks up Germany’s Raynet; Ambienta’s Maccaferri makes two add-ons
- Reuters — KKR to buy fund administrator Gen II in $5.1 billion deal including debt
- 富途牛牛 — Dow Jones Top Financial Services Headlines at 12 AM ET: KKR Strikes Deal to Buy Private-Capital Fund Administrator Gen II | Bank ...
- finance.yahoo.com — Becton Dickinson to Invest $19 Billion in U.S. in Exchange for Tariff Relief
- finance.yahoo.com — Schneider Electric to Buy Software Maker PTC for $22.6 Billion
- pulse2.com — KKR To Acquire Gen II Fund Services For $5.1 Billion
- gen2fund.com — KKR to Acquire Gen II Fund Services for More Than $5 Billion ...
- www.generalatlantic.com — KKR to Acquire Gen II Fund Services for More Than $5 Billion ...
- finance.yahoo.com — KKR to buy fund administrator Gen II Fund in $5.1bn deal
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