Profile: KKR & Co LP (KKR.N)
7 Mar 2014
KKR & Co. L.P. (KKR), incorporated on June 25, 2007, is a global investment company. The Company's business offers a broad range of investment management services to the Company's fund investors and provides capital markets services to its firm, its portfolio companies and other third parties. The Company conducts its business with offices throughout the world, providing the Company with a global platform for sourcing transactions, raising capital and carrying out capital markets activities. Effective July 30, 2013, KKR & Co LP acquired the entire interest of Gardner Denver Inc, which is a manufacturer and wholesaler of compressors, blowers and pumps. In August 2013, the Company formed Maritime Finance Company (Maritime Finance), a specialty finance company created to lend to the maritime industry. Effective September 24, 2013, KKR & Co LP acquired PRA International, a provider of clinical research services, from Genstar Capital LLC, and ReSearch Pharmaceutical Services Inc, a provider of clinical research services, from Warburg Pincus LLC. In October 2013, KKR & Co LP acquired an undisclosed minority stake in Weststar Aviation Services Sdn Bhd. In October 2013, KKR & Co LP acquired Mitchell International Inc . Effective November 22, 2013, the Company acquired The Crosby Group LLC and Acco Material Handling Solutions LLC from Melrose Industries PLC. Effective February 19, 2014, KKR & Co LP acquired Avoca Capital Holdings Ltd. In March 2014, KKR & Co LP acquired majority ownership of Sedgwick.
In February 2013, the Company announced the acquisition of three solar photovoltaic (PV) energy projects (SSM Solar) from an affiliate of Starwood Energy Group. In April 2013, it acquired an undisclosed minority stake in Cognita Ltd. In May 2013, KKR & Co LP acquired South Staffordshire PLC from Alinda Capital Partners LLC.
The Company , through its Private Markets segment, manages and sponsor a group of private equity funds and co-investment vehicles that invests capital for long-term appreciation, either through controlling ownership of a company or strategic minority positions. The Company also manages and sources investments in infrastructure, natural resources and real estate. As of December 31, 2012, the Company's actively investing funds included geographically differentiated investment funds and vehicles.
As of December 31, 2012, the Company’s private equity portfolio consists of over 80 companies. KKR’s other private equity investment vehicles consists of E2 Investors (Annex Fund). In addition, the Company manages certain separately managed accounts in the form of separate investment vehicles based on terms that are separately negotiated with investors in those vehicles. The Company manages investments in natural resources assets, such as oil and natural gases properties. The Company invests in real estate investments across the capital structure through various vehicles, including its private equity and alternative credit funds. This platform targets real estate opportunities, including property-level equity, debt and special situations transactions and businesses with real estate holdings.
The Company through its Public Markets segment manages KKR Financial Holdings LLC, or KFN , which is a specialty finances company, as well as a number of investment funds, structured finance vehicles and separately managed accounts that invest capital in leveraged credit strategies, such as leveraged loans and high yield bonds, liquid long/short equity strategies, alternative credit strategies such as mezzanine investments, special situations investments and direct senior lending and hedge funds solutions.
KKR Financial Holdings LLC is a specialty finance company. Its majority-owned subsidiaries finance and invest in financial assets, including below investment grade corporate debt, marketable equity securities and private equity. Additionally, KFN has and may make additional investments in other asset classes including natural resources and real estate. Below investment grade debt includes senior secured and unsecured loans, mezzanine loans, high yield bonds, and distressed and stressed debt. The Company serves as the external manager of KFN under a management agreement and were entitled to receives a management fee and an incentive fee.
The Company's credit strategies business pursues investments in debt securities ranging from liquid securities such as leveraged loans and high-yield bonds to alternative credit including longer-duration strategies such as mezzanine and special situations. These investments may be made across a range of vehicles including funds and single- or cross-strategy separately managed accounts.
The Company manages mezzanine investments primarily through a fund that invests in directly sourced third-party mezzanine transactions. These investments often consist of mezzanine debt, which generates a current yield, coupled with marginal equity exposure with additional upside potential. The Company's leveraged credit strategies are directed at investing in leveraged loans, high-yield bonds, or a combination of both. The Company manages investments in proprietarily sourced senior debt financings for middle-market companies through its direct lending strategy. The Company manages fundamental long/short equity investments in mid- and large-cap companies.
Capital Markets and Principal Activities
The Company's Capital Markets and Principal Activities segment combines KKR's principal assets with the Company's global capital markets business. The Company's capital markets services include arranging debt and equity financing for transactions, placing and underwriting securities offerings, structuring new investment products and providing capital markets services.
KKR & Co LP
Suite 4200, 9 West 57th Street
NEW YORK NY 10019