KKR & Co Inc has reportedly signed a deal with Japanese financial group SBI Holdings to create a joint venture for offering investment trusts to retail investors in Japan. The first fund is expected to be launched by the end of October next year. In a separate release, KKR increased investment and disclosed a new equity investment of more than $1 billion in USI Insurance Services. Following the transaction's closing, KKR will be USI's largest single shareholder. KKR shares are trading lower by 6.40% at $58.80 premarket on the last check Monday.