KKR Inks ~$1.4B Deal For Australian Company Perpetual's Corporate Trust And Wealth Management Units: Details
Portfolio Pulse from Lekha Gupta
KKR & Co. Inc. (NYSE:KKR) has agreed to purchase Perpetual's wealth management and corporate trust units for approximately $1.43 billion. The acquisition will be executed through a Scheme of Arrangement, with net proceeds returned to shareholders after debt repayment and other costs. This move follows Perpetual's acquisition of Pendal 16 months prior. Perpetual also announced the retirement of CEO Rob Adams. Additionally, KKR recently formed a JV with Healthcare Realty Trust for medical outpatient buildings and holds $14.6 billion in cash and investments. KKR shares slightly increased by 0.02% to $99.56.
May 08, 2024 | 6:27 pm
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POSITIVE IMPACT
Investors can gain exposure to KKR's stock through Northern Lights Fund Trust IV FMC Excelsior Focus Equity ETF (FMCX), which may see increased interest following KKR's acquisition news.
FMCX, as an ETF that includes KKR in its holdings, may experience increased investor interest and potential positive impact on its value due to KKR's strategic acquisitions and strong financial position.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
KKR & Co. Inc. acquires Perpetual's wealth management and corporate trust units for approximately $1.43 billion, indicating strategic expansion and shareholder value focus. KKR's cash and investments remain strong at $14.6 billion.
The acquisition of Perpetual's units by KKR is a significant strategic move, indicating growth and a focus on shareholder value. The slight increase in KKR's stock price reflects positive market reception. KKR's strong cash and investment position further supports potential for future growth and acquisitions.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (LBO) provides exposure to KKR, potentially benefiting from KKR's strategic acquisitions and strong financial health.
LBO, by offering exposure to KKR, may benefit from KKR's recent acquisition and financial strength, potentially attracting more investors and positively impacting its value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70