Key facts
- KKR intends to acquire Global Atlantic Financial Group.
- The acquisition is valued at approximately $11.7 billion.
- Global Atlantic is a U.S. life and annuity insurance company.
- The deal is expected to close in the second half of 2024.
- The acquisition aims to boost KKR's long-term capital generation.
Global investment firm KKR has announced its intention to acquire Global Atlantic Financial Group, a prominent U.S. life and annuity insurance company. The transaction is valued at approximately $11.7 billion. This strategic move is designed to bolster KKR's long-term capital generation capabilities and significantly expand its footprint within the insurance industry. The acquisition is anticipated to be completed in the second half of 2024, subject to customary closing conditions and regulatory approvals. Global Atlantic's established business and strong financial performance are expected to complement KKR's existing investment strategies and provide a stable source of capital for future growth initiatives.