S&P Global and CME Group to sell OSTTRA to KKR for $3.1 billion

Sylvan Receives Investment from Novo Holdings to Drive Further Growth

Novo Holdings and KKR announced a new partnership that will see Novo Holdings make a direct investment in Sylvan, a global leader in fungal biotechnology. KKR will remain the company’s majority shareholder.

This marks Novo Holdings’ largest investment in the planetary health sector in Asia and its first in fungal biotechnology. The capital injection will support Sylvan’s expansion plans, including increased production capacity, enhanced R&D, and deeper penetration into Asia’s high-growth markets. Novo Holdings will also bring strategic value through its global life science network.

Founded in 1932 and headquartered in China, Sylvan is the world’s largest mushroom spawn manufacturer. The company operates multiple global facilities and serves customers in 65 countries. Its sustainable production methods use minimal land and water and turn agricultural waste into high-quality protein sources. Sylvan also develops fungi-based bioproducts such as bio-materials, nutritional supplements, and biopesticides.

Jackie Qi, CEO of Sylvan, said the company is aiming to become a global leader across food, health, agriculture, and materials, leveraging both Novo Holdings’ and KKR’s expertise.

Novo Holdings’ Asia leadership highlighted Sylvan’s strategic importance in supporting sustainable innovations across Asia, and KKR reaffirmed its commitment to backing global solutions with environmental and economic impact.

Novo Holdings is the investment arm of the Novo Nordisk Foundation with €142 billion in assets. KKR is a global investment firm specializing in private equity, real assets, and insurance solutions.

ReliaQuest Raises $500 Million in Funding at $3.4 Billion Valuation

Cybersecurity company ReliaQuest announced it has raised over $500 million in a growth funding round led by new investor EQT alongside existing backers KKR and FTV Capital. Other participants included Ten Eleven Ventures and Finback Investment Partners. The funding values the company at $3.4 billion and will support continued innovation in AI-driven cybersecurity automation and global expansion.

ReliaQuest’s platform, GreyMatter, integrates with over 200 cybersecurity tools and uses Agentic AI to help enterprise security teams detect, investigate, and respond to threats quickly. Since KKR's 2020 investment, the company has quadrupled its annual recurring revenue to surpass $300 million and is currently growing more than 30% annually while maintaining profitability.

ReliaQuest aims to use this investment to further enhance its platform’s automation capabilities and extend its global reach, helping customers respond to cyber threats in less than five minutes. The company serves over 1,000 enterprises globally and employs more than 1,200 people across six operating centers.

Topcon to Go Private via Management Buyout Backed by KKR and JIC Capital

Topcon Corporation has announced a management buyout (MBO) led by CEO Takashi Eto, with backing from global investment firm KKR and Japan’s government-affiliated JIC Capital. The buyout involves a tender offer at JPY 3,300 per share—offering a premium of over 99% on the company’s average stock price over the past year.

This move aims to accelerate Topcon's transformation into a global solutions company, particularly in eye care and positioning systems. By going private, Topcon plans to make bold, long-term investments free from short-term market pressures. KKR will hold a majority stake, while JICC will support the company’s strategic sectors and national security-related technologies.

The tender offer is expected to begin around the end of July 2025, pending regulatory approvals. The current management team will remain in place to lead the company’s evolution toward “Topcon 2.0,” ahead of its centennial in 2032.

**KKR to Acquire 100% of FUJI SOFT in Privatization Deal**

March 25, 2025 – KKR has signed a Memorandum of Understanding with the founding family of FUJI SOFT INCORPORATED to take the company private. The agreement supports KKR’s plan to acquire 100% ownership of FUJI SOFT through its affiliate FK Co., Ltd.

The plan involves a share consolidation to make FK and NFC Corporation the only shareholders, followed by a share repurchase by FUJI SOFT. An Extraordinary General Meeting is set for April 25, 2025, to approve the privatization. The final steps are expected to be completed by June 2025.

This move aligns with KKR’s strategy of long-term investment and growth in key markets, including Japan.

KKR & Co. Inc. Appoints Timothy R. Barakett to Board of Directors
New York, NY – March 13, 2025 – KKR & Co. Inc. (NYSE: KKR) announced the appointment of Timothy R. Barakett to its Board of Directors, increasing the total number of directors to fourteen.

Key Details of Appointment
Compensation: Mr. Barakett will receive an annual cash retainer of $130,000, which will be prorated based on his March 13, 2025 appointment date.
Equity Grant: He was awarded 1,166 shares of common stock under the Amended and Restated KKR & Co. Inc. 2019 Equity Incentive Plan, which will vest on December 1, 2025, subject to exceptions.
Indemnification Agreement: Mr. Barakett entered into KKR’s standard indemnification agreement for non-executive directors.
Board Approval: His appointment was approved by KKR Management LLP, the sole holder of the Series I preferred stock of the company, via written consent.
Regulatory Filing and Disclosure
KKR has filed a Form 8-K with the Securities and Exchange Commission (SEC) regarding this appointment. A press release announcing Mr. Barakett’s appointment has also been furnished as Exhibit 99.1 to the filing.

KKR & Co. Inc. Announces $2.53 Billion Offering of 6.25% Series D Mandatory Convertible Preferred Stock
New York, NY – March 7, 2025 – KKR & Co. Inc. (NYSE: KKR) announced the successful completion of its previously disclosed underwritten public offering of 51,750,000 shares of 6.25% Series D Mandatory Convertible Preferred Stock (“Mandatory Convertible Preferred Stock”). The total aggregate liquidation preference of the offering amounts to $2,587,500,000, which includes 6,750,000 shares issued upon full exercise of the underwriters' over-allotment option.

The offering was conducted under an underwriting agreement with Morgan Stanley & Co. LLC and KKR Capital Markets LLC, as representatives of the underwriters. Net proceeds from the offering were approximately $2.53 billion, after deducting underwriting discounts and estimated offering expenses.

Key Terms of the Mandatory Convertible Preferred Stock
The Mandatory Convertible Preferred Stock, as outlined in the Certificate of Designations filed with the Delaware Secretary of State, features the following terms:

Dividend Rate: 6.25% per annum, payable quarterly on March 1, June 1, September 1, and December 1, beginning June 1, 2025.
Conversion Date: Automatically converts to Common Stock on March 1, 2028, unless converted earlier.
Conversion Range:
Each share converts into between 0.3312 and 0.4140 shares of Common Stock.
The exact conversion rate will be based on the volume-weighted average price (VWAP) of KKR common stock over a 20-day period prior to March 1, 2028.
Liquidation Preference: $50.00 per share, plus any accumulated and unpaid dividends.
Dividend Payments:
Dividends may be paid in cash, shares of Common Stock, or a combination of both.
Payments are subject to certain restrictions and conditions.
Restrictions on Dividends & Repurchases
Unless all accumulated and unpaid dividends are declared and paid in full:

KKR may not declare or pay dividends on its Common Stock or other junior-ranking securities.
KKR may not repurchase or redeem its Common Stock or other junior-ranking securities.
Any dividend payments on securities of equal priority must be made on a pro-rata basis with the Mandatory Convertible Preferred Stock.
Use of Proceeds
KKR intends to use the net proceeds from the offering for general corporate purposes, including:

Strategic investments
Potential acquisitions
Operational expenses
Legal Filing and Effective Date
The Certificate of Designations was filed with the Delaware Secretary of State and became effective on March 7, 2025.

Darwinbox, a global HR technology platform, has secured a $140 million investment co-led by Partners Group and KKR, with additional participation from Gravity Holdings. This investment will support Darwinbox’s global expansion and strengthen its technology leadership. Founded in 2015, the company has grown rapidly, serving over 1,000 enterprises worldwide and achieving a fivefold increase in international revenue over the past two years.

Darwinbox has been recognized as a Challenger in the Gartner Magic Quadrant for Cloud HCM Suites and continues to expand in key markets, including Asia Pacific, the Middle East, the UK, and the US. The investment reflects confidence in the company’s AI-driven HR solutions and ability to disrupt legacy platforms.

Partners Group emphasized Darwinbox’s growth potential in the HR tech sector, while KKR highlighted its commitment to supporting the company’s next phase of expansion. With clients such as Starbucks, Nivea, and AXA, Darwinbox is focused on enhancing employee experiences through AI-powered solutions. The transaction was advised by Avendus Capital.

KKR has announced an agreement to sell Seiyu, a major Japanese supermarket chain, to Trial Holdings, a retail and distribution company based in Japan. The deal follows KKR’s acquisition of a majority stake in Seiyu from Walmart in 2021 and an additional stake from Rakuten in 2023, bringing its total ownership to 85%. Walmart will also sell its remaining 15% stake to Trial.

Under KKR’s ownership, Seiyu has undergone significant transformations, including improved product quality, enhanced operational efficiency through technology, and a shift from a general merchandise store model to a supermarket format. Seiyu has also modernized its IT infrastructure to enhance the customer experience.

KKR executives expressed pride in Seiyu’s progress and confidence in its continued success under Trial’s ownership. Seiyu’s CEO, Tsuneo Okubo, credited KKR and Walmart for supporting the company’s transformation and looked forward to future growth with Trial. The transaction, made through KKR’s Asian Fund IV, is expected to close in the second quarter of 2025, subject to regulatory approvals.

KKR & Co. Inc. has priced its upsized offering of $2.25 billion in 6.25% Series D Mandatory Convertible Preferred Stock, increasing from the previously announced $1.5 billion. The offering consists of 45 million shares at $50.00 per share, with underwriters having a 30-day option to purchase an additional $337.5 million in shares. The offering is expected to close on March 7, 2025, pending customary conditions.

The company expects net proceeds of approximately $2.2 billion (or $2.53 billion if the underwriters exercise their option fully) after deductions. KKR plans to use the funds to acquire additional equity interests in its core private equity portfolio companies within its Strategic Holdings segment and for general corporate purposes.

Each share of the mandatory convertible preferred stock will automatically convert into between 0.3312 and 0.4140 shares of KKR’s common stock on March 1, 2028, unless converted earlier. Dividends will be paid at an annual rate of 6.25%, payable quarterly beginning June 1, 2025, in cash, stock, or a combination of both. KKR has applied to list the stock on the New York Stock Exchange under the symbol "KKR PR D."

Morgan Stanley, KKR Capital Markets, Goldman Sachs, and UBS Securities are acting as joint book-running managers for the offering.

KKR and Ajax Health have announced the formation of FlowMod, a new medical device platform focused on developing a system for treating heart failure. FlowMod is the result of a collaboration between Boston Scientific, Ajax Health, and KKR, leveraging intellectual property from Boston Scientific to accelerate clinical validation and regulatory approval for a new heart failure treatment. The condition affects 64 million people worldwide.

Duke Rohlen, CEO of Ajax Health, highlighted the opportunity to introduce a differentiated solution for interventional heart failure treatment. Ali Satvat, Partner and Global Head of Health Care Strategic Growth at KKR, emphasized the firm's commitment to advancing innovative medical technology.

FlowMod will be led by Dr. Philippe Marco, who previously served as President and Chief Operations Officer of Epix Therapeutics and CV Ingenuity, both Ajax-led companies that received pre-market approval for cardiovascular devices. KKR is investing in FlowMod through its KKR Health Care Strategic Growth Fund II, a $4 billion fund dedicated to high-growth health care companies.

KKR & Co. Inc. has announced the launch of a $1.5 billion offering of its Series D Mandatory Convertible Preferred Stock, subject to market conditions. The offering consists of 30 million shares, each with a liquidation preference of $50.00 per share. The company has also granted underwriters a 30-day option to purchase up to an additional $225 million, or 4.5 million shares, to cover over-allotments.

KKR plans to use the net proceeds from the offering for the acquisition of additional equity interests in core private equity portfolio companies reported in its Strategic Holdings segment and for other general corporate purposes. The preferred stock will automatically convert into a variable number of common shares around March 1, 2028, unless converted earlier at the option of the holders. The conversion rates, dividend rate, and other terms will be determined at pricing.

Morgan Stanley & Co. LLC and KKR Capital Markets LLC are acting as joint book-running managers for the offering. The securities will be offered under an effective shelf registration statement on file with the SEC. Copies of the preliminary prospectus supplement and accompanying prospectus are available on the SEC’s website or by contacting Morgan Stanley or KKR Capital Markets.

This announcement is not an offer to sell or a solicitation to buy these securities in any jurisdiction where such an offer would be unlawful.

KKR has announced an investment in a multifamily housing development in Haninge, just south of Stockholm, in partnership with Swedish developers Reliwe and The Derome Group. The deal involves the forward purchase of three properties under development, totaling 382 residential units, expected to be completed between late 2026 and early 2027.

The project includes two timber-constructed buildings built by Derome and one traditional concrete construction, all designed to meet high environmental standards. The development is located near a major transit hub, providing strong connectivity to Stockholm's city center.

Alexander Thams, Head of Nordics Real Estate for KKR, emphasized the significance of the investment, highlighting the strong residential market fundamentals in Stockholm and the innovative use of timber construction. Reliwe and Derome expressed their commitment to delivering high-quality, sustainable housing.

KKR is partnering with Cavendo to manage and expand its Stockholm residential platform. Advisors on the transaction include Roschier, Svalner, Red Management, and Tango Capital Markets.

KKR has committed approximately $550 million (SEK 6 billion) to Nordic real estate investments over the past two years, focusing on high-quality residential and logistics assets. More details can be found at [KKR’s official release](https://www.businesswire.com/news/home/20250220298047/en/).

KKR has successfully completed its tender offer for FUJI SOFT, acquiring 58% ownership and becoming the company's largest shareholder. The firm now plans to proceed with the privatization of FUJI SOFT, with an Extraordinary General Meeting scheduled for late April 2025 to finalize the squeeze-out process.

FUJI SOFT, a leading Japanese system integration company, reported record revenue of 317.5 billion yen and an operating income of 22 billion yen in the fiscal year ending December 2024. The acquisition aligns with FUJI SOFT's mid-term business plan to become a top provider of systems, software, and services in the IT and OT fields.

Hiro Hirano, Deputy Executive Chairman of KKR Asia Pacific and CEO of KKR Japan, expressed confidence in FUJI SOFT’s future under KKR’s ownership, highlighting its role in digital transformation, cloud computing, and AI in Japan. KKR will support the company's growth and value creation through its global network and expertise.

The acquisition was financed primarily by KKR Asian Fund IV.

KKR has announced its acquisition of a stake in Employment Hero, a leading global employment management platform, from SEEK Investments. The SEEK Growth Fund will remain a significant investor in the company. The transaction, expected to close in the first quarter of 2025, marks KKR’s latest technology growth investment in Australia, aligning with its strategy to support small and medium business (SMB) software.

Founded in 2014, Employment Hero provides HR management, payroll, recruitment, and employee engagement tools to over 300,000 small and medium-sized enterprises worldwide. The investment follows Employment Hero’s acquisition of Canadian employment platform Humi in January and its surpassing of A$250 million in annual recurring revenue.

KKR will invest through its Asia Next Generation strategy, which has backed several technology-driven businesses across the Asia-Pacific region, including SmartHR in Japan, GrowSari in the Philippines, and Privy in Indonesia. The deal is expected to support Employment Hero’s continued platform expansion and international growth.

Ben Thompson, CEO and Co-Founder of Employment Hero, expressed enthusiasm for KKR’s involvement, emphasizing the firm’s expertise and resources in advancing Employment Hero’s global reach. SEEK Investments Executive Chairman Andrew Bassat reaffirmed the fund’s long-term commitment to the company’s growth strategy.

The transaction underscores KKR’s focus on technology-driven business enablement and its commitment to expanding its footprint in the Australian market.

KKR enters into strategic partnership with energy service provider EGC

KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany.

KKR enters into strategic partnership with energy service provider EGC

KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany.

KKR enters into strategic partnership with energy service provider EGC

KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany.

KKR enters into strategic partnership with energy service provider EGC

KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany.

KKR enters into strategic partnership with energy service provider EGC

KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany.

KKR enters into strategic partnership with energy service provider EGC

KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany.

KKR enters into strategic partnership with energy service provider EGC

KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany.

KKR enters into strategic partnership with energy service provider EGC

KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany.

KKR enters into strategic partnership with energy service provider EGC

KKR, a leading global investment firm, announced that KKR has signed agreements to enter into a strategic partnership with EGC, an energy service provider based in Düsseldorf, Germany.

KKR has appointed Guy Metcalfe as a Senior Advisor for its global real estate operations. Metcalfe brings over three decades of experience, having previously served as Managing Director at Morgan Stanley, where he led the real estate investment banking business. During his tenure, Metcalfe was involved in over $850 billion in transactions across various geographies, including M&A deals, IPOs, and large capital raises. At KKR, Metcalfe will leverage his expertise and extensive network to support the firm's global real estate investment activities and platform growth.

Ralph Rosenberg, Chairman of Real Assets at KKR, expressed excitement about having someone of Metcalfe’s caliber join the team, highlighting the significant opportunity in global real estate investing. With more than 140 real estate investment professionals, KKR manages over $80 billion in assets as of September 2024. The firm continues to focus on high-quality, thematic real estate investments, applying its global platform to deliver favorable outcomes for clients and investors. Metcalfe's appointment marks another step in KKR’s commitment to expanding its capabilities and further growing its real estate portfolio.

KKR has announced an extension of its second tender offer for FUJI SOFT Inc., prolonging the offer period by 10 business days, now set to close on **February 7, 2025**. The tender offer price remains at **9,451 yen per share**, with no changes planned. The extension is intended to allow shareholders to consider the existing tender offer if Bain Capital’s anticipated unsolicited tender offer does not commence as expected.

Bain Capital previously stated its intention to launch an unsolicited tender offer by early February 2025 but added conditions involving the withdrawal or failure of KKR’s tender offer. KKR emphasized that multiple tender offers can proceed simultaneously, disputing Bain Capital’s rationale.

KKR also raised concerns about Bain Capital’s alleged breach of a confidentiality agreement, requesting FUJI SOFT’s Board to take legal action against the unauthorized use of confidential information.

KKR remains committed to its transparent approach and continues to manage its tender offer process in compliance with Japanese regulations. For further information, visit the [KKR website](https://www.kkr.com) or contact their media or investor relations representatives listed in the announcement.

KKR & Co. Inc. (NYSE: KKR) announced today that it has changed the date of its fourth quarter 2024 earnings conference call and webcast. The conference call will now be held on Tuesday, February 4, 2025 at 10:00 a.m. ET. The conference call was previously scheduled for Thursday, February 6, 2025

KKR has entered into an agreement to acquire Dawsongroup, a prominent independent asset leasing business based in the UK. The acquisition aligns with KKR's Global Climate strategy, aiming to scale net-zero solutions and support the decarbonization of high-emission assets. Under the new ownership, Dawsongroup will accelerate its ambitious growth and sustainability goals while continuing its commitment to supporting over 1,150 employees across 11 countries.

Dawsongroup, founded in 1935, has become a sector leader in asset leasing, specializing in vehicles and refrigerated solutions, and supporting businesses with its Smarter Asset Strategy. The company reported a record EBITDA of approximately £250 million last year and aims to expand its international reach and capabilities under KKR’s ownership. The partnership will also implement an employee ownership program to allow staff to benefit directly from the company’s success.

KKR, leveraging its expertise in renewable energy and sustainability, plans to help Dawsongroup transition to cleaner energy solutions and expand its market presence globally. The acquisition is subject to regulatory approval.

On January 14, 2025, KKR & Co. Inc. was involved in significant legal actions related to the Hart-Scott-Rodino Act (HSR Act). KKR filed a complaint against the U.S. Antitrust Division, FTC, and the U.S. itself, challenging the constitutionality of the Antitrust Division’s interpretation of the HSR Act and the magnitude of fines proposed, claiming they were excessive and based on misunderstandings of inadvertent paperwork errors during 2021 and 2022 filings. On the same day, the Antitrust Division filed a lawsuit against KKR for alleged violations of the HSR Act, seeking civil penalties and other equitable relief. KKR expressed its intention to vigorously defend against these allegations, emphasizing a history of compliance and disputing the claims of intentional oversight avoidance.