KKR - KKR & Co. Inc.

NYSE - NYSE Delayed Price. Currency in USD
31.63
-1.48 (-4.47%)
At close: 4:00PM EST

31.63 0.00 (0.00%)
After hours: 4:56PM EST

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Previous Close33.11
Open31.87
Bid31.62 x 1800
Ask32.49 x 900
Day's Range31.23 - 32.11
52 Week Range22.01 - 34.14
Volume4,486,820
Avg. Volume2,909,320
Market Cap26.836B
Beta (5Y Monthly)1.79
PE Ratio (TTM)8.94
EPS (TTM)3.54
Earnings DateApr 27, 2020 - May 03, 2020
Forward Dividend & Yield0.50 (1.51%)
Ex-Dividend DateFeb 06, 2020
1y Target Est37.21
  • KKR Bids for Telecom Italia Grid Stake as Spinoff Rekindled
    Bloomberg

    KKR Bids for Telecom Italia Grid Stake as Spinoff Rekindled

    (Bloomberg) -- Private equity giant KKR & Co. submitted an expression of interest for a minority stake in Telecom Italia SpA’s landline network, people familiar with the matter said, in a move that could allow the ex-phone monopoly to achieve the long-planned spinoff of part of its grid.KKR may buy as much as 49% of the landline’s “secondary network” of copper and fiber lines that run from street cabinets to premises, the people said. The whole of this network was valued by the U.S. investment firm at 7 billion euros ($7.6 billion) to 7.5 billion euros, they said.Telecom Italia closed 3.8% higher in Milan, having reversed earlier losses.The company will also team up with KKR in an attempt to buy wholesale-fiber carrier Open Fiber SpA, the people said, asking not to be named because the discussions aren’t public.Chief Executive Officer Luigi Gubitosi plans to discuss KKR’s informal offer at Telecom Italia’s board meeting Feb. 27, the people said. Bloomberg News last week reported that the firm was open to purchasing a minority holding in the division.The plan, which calls for the creation of a separate unit for grid-related assets, signals a return by Telecom Italia to the long-discussed idea of partially spinning off its network. The grid unit would be still controlled by the Italian phone giant, the people said.Gubitosi has since last year been weighing enlisting international funds to help finance a potential network deal with Open Fiber, and to then allow that company to invest in the Telecom Italia landline grid, people familiar with the matter said at the time.The CEO is also looking to boost demand for premium services, work with rivals on network investments to cut costs and spin off non-core assets.Spokespeople for Telecom Italia, KKR and Open Fiber declined to comment.(Adds detail on purchase in second paragraph, updates share price.)To contact the reporter on this story: Daniele Lepido in Milan at dlepido1@bloomberg.netTo contact the editors responsible for this story: Tommaso Ebhardt at tebhardt@bloomberg.net, Jerrold Colten, Jennifer RyanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    Canada's indigenous lead climate charge with rail blockade, put Trudeau in a bind

    Canadian indigenous groups are leading the charge against fossil-fuel development in a country with the world's third-largest proven oil reserves, using rail blockades as leverage and putting Prime Minister Justin Trudeau in a bind. Members of the Wet'suwet'en Nation in British Columbia have been fighting the construction of TC Energy Corp's planned Coastal GasLink pipeline for a decade, but now savvy social media use and years of outreach have drawn allies. For almost two weeks, protesters across the country have taken up their cause, bringing freight and passenger traffic to a standstill in parts of Canada.

  • Reuters

    Rise in private credit leads to boost in unitranche loans

    Years of sustained private debt fundraising and the growth of credit funds have allowed direct lenders to offer loans that are increasingly growing larger in size. Known as unitranches, these facilities combine different loans into one, and pay an interest rate that sits in between the highest and lowest rate on the individual loans. As a borrowing tool in the middle market, unitranches had stayed below the US$300m mark.

  • Here's Why Momentum Investors Will Love KKR & Co. Inc. (KKR)
    Zacks

    Here's Why Momentum Investors Will Love KKR & Co. Inc. (KKR)

    Does KKR & Co. Inc. (KKR) have what it takes to be a top stock pick for momentum investors? Let's find out.

  • Business Wire

    KKR to Present at the Credit Suisse 21st Annual Financial Services Forum 2020

    KKR & Co. Inc. (NYSE: KKR) announced today that Robert Lewin, Chief Financial Officer, and Craig Larson, Head of Investor Relations, will present at the Credit Suisse 21st Annual Financial Services Forum 2020 on Friday, February 28, 2020 at 9:20AM ET.

  • Business Wire

    KKR Prices $500,000,000 of Senior Notes

    KKR & Co. Inc. ("KKR") (NYSE: KKR) today announced that it has priced an offering of $500,000,000 aggregate principal amount of its 3.625% Senior Notes due 2050 (the "notes") issued by KKR Group Finance Co. VII LLC, its indirect subsidiary. The notes are to be fully and unconditionally guaranteed by KKR & Co. Inc. and its subsidiary, KKR Group Partnership L.P. KKR intends to use the net proceeds from the sale of the notes for general corporate purposes.

  • Business Wire

    KKR Forms Life Sciences Tools Platform Gamma Biosciences

    KKR, a leading global investment firm, today announced the formation of a new platform, Gamma Biosciences ("Gamma" or "the Company"), which will operate a portfolio of companies focused on next-generation bioprocessing technologies for the production of advanced biologic therapies. KKR and co-investors have committed to invest $200 million in Gamma. For KKR, the investment is from its Health Care Strategic Growth Fund, which is focused on high-growth companies for which KKR can be a unique partner in helping reach scale.

  • Reuters

    Canada's Trudeau stresses the need for peaceful end to pipeline protests

    Canadian Prime Minister Justin Trudeau on Monday called for a peaceful solution to end rail blockades by indigenous rights groups protesting the construction of a natural gas pipeline. Indigenous communities across Canada have blocked key rail lines for nearly two weeks to oppose construction of the Coastal GasLink pipeline in British Columbia, which has forced Canada's biggest railroad, Canadian National Railway Co, to shut operations in eastern Canada.

  • Reuters

    Canada's Trudeau scraps Barbados trip to try to resolve anti-pipeline protests

    Canadian Prime Minister Justin Trudeau has canceled his planned trip to Barbados to help resolve widespread rail disruptions caused by indigenous rights activists opposing the construction of a natural gas pipeline, his office said on Sunday. Indigenous communities across Canada have been blocking some key railway lines for nearly two weeks in protest against the Coastal GasLink pipeline in British Columbia, which has forced Canada's biggest railroad, Canadian National Railway Co , to shut operations in eastern Canada.

  • Prem Watsa's Top 5 Buys of the 4th Quarter
    GuruFocus.com

    Prem Watsa's Top 5 Buys of the 4th Quarter

    Canadian investor’s largest new holding is Fitbit Continue reading...

  • World's Top 10 Private Equity Firms
    Investopedia

    World's Top 10 Private Equity Firms

    These are the top ten private equity firms globally at the start of 2020, including information on their investment focus and notable holdings.

  • Reuters

    ByteDance to name exclusive head for gaming, signalling ambitions for business -sources

    HONG KONG/BEIJING, Feb 14 (Reuters) - China's ByteDance, the owner of video-sharing app TikTok, will appoint an executive to exclusively lead its nascent gaming business, sources said, signalling its growth ambitions in the sector and an intensifying rivalry with tech giant Tencent. Yan Shou, head of both strategy and gaming businesses, will focus wholly on gaming, as ByteDance sees gaming as the next important source of growth and plans to roll out a game like Honor of Kings, according to one of the people, asking not to be identified because the information isn’t public. ByteDance declined to comment.

  • China’s 58 Home Said to Delay U.S. IPO as Virus Hurts Demand
    Bloomberg

    China’s 58 Home Said to Delay U.S. IPO as Virus Hurts Demand

    (Bloomberg) -- 58 Home, the maid and home-maintenance service owned by China’s Craigslist equivalent 58.com Inc., has delayed its planned U.S. initial public offering, according to people familiar with the matter, as the coronavirus outbreak cripples customer demand.The company’s pre-IPO financing round -- a private fundraising effort that started late last year -- also hasn’t been completed, said the people, who asked not to be named because the information is private. The IPO had been expected to take place in the first half of the year.Shares of 58.com Inc. fell 4.9% in New York trading, the biggest decline since September.The 58 Home’s move adds to the list of IPO setbacks amid the virus outbreak. Restaurant operator Daikiya Group Holdings Ltd. on Wednesday canceled its first-time share sale in Hong Kong, while Chinese biotech firm InnoCare Pharma Ltd. has postponed investor meetings for its planned listing in the financial hub.Read: Virus Hits World’s No.1 IPO Market as Investor Meetings ScrappedThe virus has killed at least 1,355 people in China as of Thursday. People across the nation have been minimizing personal contact for fear of contracting the disease, hurting 58 Home’s on-demand services including part-time cleaners and home handymen.“Obviously, the virus outbreak has affected home and cleaning services -- that entire sector has almost been brought to a standstill,” 58 Home said in a statement. “Our short-term revenue will be affected.”The firm declined to comment on its IPO and fundraising plans.The company added it is facing a severe shortage of maids, and 30 million people in the home and cleaning-services sectors could lose their jobs if the outbreak continues.Workers StrandedMany workers are still stranded in their hometowns, where they traveled for Lunar New Year celebrations, and haven’t been able to return to major cities after the authorities curtailed travel to try to contain the virus.To ensure the health of maids who work on its platform, 58 Home has been logging their travel history, and offering masks and temperature checks.Locally known as 58 Daojia, the company has been seeking funds to bankroll an expansion into China’s competitive online services arena. It was aiming for a valuation of as much as $2 billion in a U.S. IPO.58 Home is one of China’s leaders in helping people connect online with services from flower delivery to home cleaning. Backed by Tencent Holdings Ltd., it’s vying against deeper-pocketed rivals such as Meituan Dianping and businesses operated by e-commerce leader Alibaba Group Holding Ltd. All are targeting a slice of a market for physical, on-demand services that are being disrupted by online technology.58.com’s unit raised its last private funding round in 2015, garnering $300 million from investors including Alibaba, KKR & Co. and Ping An Group. Parent 58.com holds 68.8% of the company’s equity interest but doesn’t consolidate the unit’s financials in its own results, according to its annual filing.(Updates to add 58.com Inc. share price in third paragraph)To contact the reporters on this story: Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.net;Dong Cao in Beijing at dcao59@bloomberg.netTo contact the editors responsible for this story: Candice Zachariahs at czachariahs2@bloomberg.net, Peter Vercoe, Fion LiFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    Telecom Italia set to pick KKR as partner in Open Fiber deal - sources

    Telecom Italia (TIM) is set to pick private equity firm KKR to help it to create a national fibre-optic champion with Open Fiber, two sources familiar with the matter said on Thursday. One of the sources said TIM was close to selecting KKR because the U.S. investment firm had also expressed an interest in investing in the former phone monopoly's secondary network - the part that connects street cabinets to subscribers' homes - which it values at 7.0-7.5 billion euros ($7.6-$8.2 billion). KKR declined to comment.

  • Telecom Italia Said to Be Near Picking KKR for Fiber Deal
    Bloomberg

    Telecom Italia Said to Be Near Picking KKR for Fiber Deal

    (Bloomberg) -- Telecom Italia SpA is close to picking the private equity giant KKR & Co. to help it acquire wholesale fiber carrier Open Fiber SpA, according to people familiar with the matter.Telecom Italia is choosing the U.S. investment firm because it’s also open to purchasing a minority stake in a portion of the Italian company’s landline network, the socalled “secondary network” of copper and fiber lines running from street cabinets to premises, that’s valued by KKR at 7 billion euros ($7.6 billion) to 7.5 billion euros, said the people, who asked not to be named because the discussions are private.Telecom Italia shares rose as much as 3.2% at the market open in Milan, their biggest intraday gain since November. The larger goal is building a single national network, an approach favored by the Italian government led by Premier Giuseppe Conte.Since last year, Telecom Italia Chief Executive Officer Luigi Gubitosi has considered enlisting international funds to help finance a potential network deal with rival Open Fiber, people familiar with the matter said at that time. Gubitosi is also looking to boost demand for premium services, work along with rivals on network investments to cut costs, and spin off noncore assets.Open Fiber’s investors include Italy’s state lender Cassa Depositi e Prestiti and the country’s largest utility, Enel SpA. Francesco Starace, CEO of Enel, said last week in an interview with Börsen Zeitung that he isn’t going to sell the company’s stake in Open Fiber. In contrast, Cassa Depositi would be open to selling its Open Fiber stake, another person said.Spokespeople for Telecom Italia and KKR declined to comment. Representatives for Open Fiber and Cassa Depositi weren’t available after business hours.Open Fiber reported full-year 2018 revenue of 114 million euros. Its active customers numbered 500,000 at the end of that year, and the company reached more than 5 million households with its fiber network.(Updates with share price in third paragraph)\--With assistance from Liana Baker.To contact the reporter on this story: Daniele Lepido in Milan at dlepido1@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net;Rebecca Penty at rpenty@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Reuters

    EXPLAINER-Why are indigenous groups protesting a Canada gas pipeline?

    Protests broke out in many parts of Canada over the past week, triggered by arrests of dozens of protesters on traditional indigenous land along a route for TC Energy Corp's planned Coastal GasLink pipeline. The demonstrations have disrupted freight and passenger rail and Canadian Prime Minister Justin Trudeau on Wednesday urged protesters to find a quick solution. The flashpoint was police arrests that started last week in northern British Columbia of protesters who oppose the pipeline's construction on traditional land of the Wet'suwet'en indigenous people.

  • Reuters

    PRESS DIGEST- British Business - Feb. 12

    The following are the top stories on the business pages of British newspapers. - U.S. private equity firm KKR & Co Inc has ruled itself out of a bid for NMC Health Plc after the troubled private hospitals group said that it had been approached. - Link Real Estate Investment Trust, which has extensive property investments including shopping centres in China, abandoned talks to support Intu Properties Plc's planned equity raise at the end of this month.

  • Barrons.com

    Matthew Levine Is Leaving Private-Equity Firm EQT

    Matthew Levine, a well-known player in the private-equity world, is leaving the Swedish firm after more than five years.

  • KKR Undercuts Wall Street With a Last Minute $1 Billion Loan
    Bloomberg

    KKR Undercuts Wall Street With a Last Minute $1 Billion Loan

    (Bloomberg) -- Barclays Plc had the deal seemingly locked up.Along with a trio of smaller lenders, the bank had agreed to arrange a $1.1 billion loan for ACProducts’ buyout of a unit of rival Masco Corp. While the terms of the financing weren’t quite as good as the kitchen-cabinet maker’s private equity owners had hoped, getting a signed commitment from the banks allowed the company to finally announce the deal in mid-November.Then a couple of months later, something odd happened: a new -- and markedly better -- funding proposal landed in front of the buyout firm’s executives. The terms were so much better, in fact, that they would wind up coming out ahead even though walking away from the Barclays deal would trigger millions of dollars in breakup fees, according to people with knowledge of the matter. They said yes.The last-minute lender wasn’t Bank of America Corp. or JPMorgan Chase & Co. or any of Barclays’ other traditional rivals. It was KKR & Co., a giant in the world of private equity that is normally on the receiving, not giving, end of deals in the $1.2 trillion U.S. leveraged loan market. And the decision to undercut Barclays on the ACProducts loan underscores just how cutthroat KKR and other private-equity firms have become in recent years as they look to play a bigger role in the lending market.Representatives from Barclays, KKR and American Industrial Partners, which owns ACProducts, declined to comment on the transactions.Breakage FeeFor KKR, its credit-investing and debt underwriting business has increasingly put it in competition with established Wall Street players, especially in the business of offering buyout financing. Private capital providers are rushing to build out direct lending operations, looking to capitalize on a shift in global finance many say is just getting started.KKR’s ACProducts deal was especially surprising to market watchers because Barclays already had an established relationship with the company and its sponsor.The bank had lined up about $400 million of financing for a separate acquisition the Texas-based company made about a year ago. While Barclays was forced to take about half of that debt on its balance sheet as syndicated loan buyers balked, the bank had been willing to lend to the company when others wouldn’t. Its M&A advisers also worked with ACProducts on the Masco acquisition.In the end, Barclays didn’t walk away empty handed. In fact, thanks to the so-called alternative-transaction fee, the bank is still getting around half of the money it would have otherwise collected for underwriting the deal -- without having to go out and sell it to investors, one of the people said, asking not to be identified because the details are confidential.The loan arranged by KKR will also repay ACProducts’ existing debt, getting Barclays out of the portion of the original financing it was never able to offload.The KKR package had several advantages over the Barclays-led deal. For starters, it would eliminate the need for a bond, which would have burdened the company with additional disclosures and been more expensive to repay in the event American Industrial Partners wanted to sell the company.It also offered a lower cost of capital compared to the rates at which the banks had agreed to backstop the deal, and didn’t come with the additional investor protections that direct lenders often require, the people said.KKR’s credit division and some co-investors have also agreed to take around three-quarters of the loan themselves, leaving only a small portion of the financing exposed to the ebb and flow of the syndicated market, one of the people said.The unitranche loan maturing in 2025 may pay 6.5 percentage points over the London interbank offered rate and sell at an original issue discount of 99 to 99.5 cents on the dollar. Investors have until Feb. 18 to participate in the offering.(Updates with original issue discount in final paragraph)To contact the reporter on this story: Davide Scigliuzzo in New York at dscigliuzzo2@bloomberg.netTo contact the editors responsible for this story: Natalie Harrison at nharrison73@bloomberg.net, Boris KorbyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • MarketWatch

    NMC Health shares slump as KKR rules out takeover bid

    NMC Health shares slumped nearly 15% as Kohlberg Kravis Roberts said it's not made a proposal to buy the Middle Eastern hospital operator and that it doesn't intend to make one. GK Investment Holding Group earlier on Tuesday had stated it's in the preliminary stages of considering a bid. NMC, a target of short-seller Muddy Waters, on Monday had said KKR and GK Investment had made "highly preliminary approaches."

  • Reuters

    Police arrest 33 protesters opposing gas pipe, Vancouver port closure ends

    Police have arrested 33 people on Monday, ending the closure of Vancouver ports in British Columbia province by indigenous protesters opposing the construction of Coastal GasLink pipeline. The arrests resulted from an injunction granted by a British Columbia court on Sunday to restore access to ports in the city. Port Metro Vancouver is one of Canada's biggest ports and police say protesters received several requests and warnings to clear the area prior to the arrests.

  • MarketWatch

    NMC Health confirms bid approaches from KKR & Co. and GK Investment Holding

    NMC Health PLC said Monday that it has received approaches from Kohlberg Kravis Roberts & Co. and GK Investment Holding Group SA regarding possible offers for the company.

  • Business Wire

    KKR Sells Deutsche Glasfaser to EQT and OMERS

    KKR, a leading global investment firm, today announces the signing of an agreement with EQT Infrastructure IV fund ("EQT" or "EQT Infrastructure") and OMERS, for EQT and OMERS to jointly acquire Deutsche Glasfaser ("DG").